PV Power reports over 31.2 mln USD in post-tax profit in Q1
PetroVietnam Power Corporation (PV Power) reported a post-tax profit of 720 billion VND (over 31.2 million USD) the first quarter of 2021, surpassing the quarterly plan by 6 percent.
PV Power reports over 31.2 million USD in post-tax profit in Q1. (Photo: VNA)
Hanoi (VNA) - PetroVietnam Power Corporation (PV Power) reported a post-tax profit of 720billion VND (over 31.2 million USD) thefirst quarter of 2021, surpassing the quarterly plan by 6 percent.
Deputy Director of PV Power Nguyen ThiNgoc Bich attributed the firm’s strong growth profit to its finance investmentactivities in the period, including the successful divestment of over 19.93million shares at Petro Vietnam machinery-technology JSC (PV MACHINO), which generated a pre-tax profit of 350 billionVND.
Dividends worth about 170 billion VND that PV Power received from Nhon Trach 2thermal power JSC also contributed significantly to its profit in the lastthree months.
However, PV Power’s electricity output reached 4.64 billion kWh in the reviewedperiod, equal to only 90 percent of the set plan for the first quarter, and 88percent of the same period last year.
PV Power will closely work with the Electricity of Vietnam, the National Load Dispatch Centre (A0), the Vietnam National Coal andMineral Industries Group (Vinacomin), and the PetroVietnam Gas Joint Stock Corporation (PV GAS) inoperating its power plants, towards producing 5.923 billion kWh in the secondquarter.
It also plans to pour investment intoNhon Trach 3 and 4 power plants in the coming time./.
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PV Power reports over 31.2 million USD in post-tax profit in Q1. (Photo: VNA) 
