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Truong Long Engineering & Auto Q1 profit climbs 38.8% YOY

Truong Long Engineering & Auto JSC said its first-quarter normalized net income was 2,117.19 dong per share, a gain of 38.8% from 1,525.64 dong per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 20.85 billion dong, a gain of 38.8% from 15.02 billion dong in the prior-year period.

The normalized profit margin dropped to 5.6% from 6.2% in the year-earlier period.

Total revenue rose 54.4% on an annual basis to 374.88 billion dong from 242.75 billion dong, and total operating expenses increased 52.7% on an annual basis to 350.12 billion dong from 229.27 billion dong.

Reported net income increased 42.3% on an annual basis to 26.68 billion dong, or 2,710.00 dong per share, from 18.75 billion dong, or 1,904.00 dong per share.

As of April 20, US$1 was equivalent to 22,293.50 dong.