TIẾNG VIỆT Petrolimex’s 1Q net loss at nearly $81mln from $51mln net income
Petrolimex’s 1Q net loss at nearly $81mln from $51mln net income. Photo: NDH.vn
Vietnam National Petroleum Group (HoSE: PLX) reported consolidated net revenue of VND38,478 billion ($1.64 billion) and VND1,893 billion ($81 million) loss in the first quarter of 2020.
Earlier, in the document sent to the State Capital Management Committee, Petrolimex estimated a loss of over VND570 billion ($24 million).
Beside low oil prices, travel ban to limit the spread of coronavirus has made the revenue falling by 8.3% from the same period last year.
The retailer suffered high-cost burden in the quarter. Financial expenses increased by 38% to VND230 billion, selling expense was reported at VND2,015 billion.
On average, each PLX share suffers a loss of VND1,590, and the company’s total assets reduced by nearly VND6.7 trillion ($285.6 million) in the first quarter to nearly VND55 trillion ($2.3 billion) as of end-March.
