PV Power’s first-half post-tax profit nears $50 million

July, 07/2022 - 07:32

PetroVietnam Power Corporation (PV Power) reported a post-tax profit of VNĐ1.159 trillion (over US$49.56 million) in the first six months of this year, surpassing the target set for the entire year by 56 per cent.

A view of Nhơn Trạch 1 and Nhơn Trạch 2 power plants in Đồng Nai. — Photo pvpower.vn

HÀ NỘI — PetroVietnam Power Corporation (PV Power) reported post-tax profit of VNĐ1.159 trillion (over US$49.56 million) in the first six months of this year, surpassing the target set for the entire year by 56 per cent.

This year, PV Power's profit plan has been adjusted down from its previously announced level.

Therefore, its first-half post-tax profit, despite representing an annual decrease of 19 per cent, still exceeded the yearly goal.

Also in the period, its electricity output reached 7.1 billion kWh, reducing by 25 per cent year-on-year.

Nguyễn Đình Thi, head of PV Power's economic planning department, said that with such output decrease, the company’s revenue amounted to VNĐ14.865 trillion, equaling 61.3 per cent of the yearly plan but down five per cent compared to the same previous last year.

Meanwhile, mobilised electricity prices in the first half increased sharply, even hitting VNĐ2,000 per kWh sometimes.

In the last six months, PV Power is projected to face difficulties such as a recession of the world economy, an unfavourable rainy hydrological situation, and a series of overhauled factories, including the Cà Mau 1, Đakrinh and Nhơn Trạch 1. — VNS

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