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National Seed JSC Q2 profit climbs 17.8% YOY

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National Seed JSC Q2 profit climbs 17.8% YOY

National Seed JSC said its normalized net income for the second quarter was 1,541.51 dong per share, compared with 1,539.10 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 25.63 billion dong, a gain of 17.8% from 21.75 billion dong in the prior-year period.

The normalized profit margin declined to 7.6% from 10.1% in the year-earlier period.

Total revenue climbed on an annual basis to 468.61 billion dong from 215.51 billion dong, and total operating expenses increased year over year to 395.32 billion dong from 181.92 billion dong.

Reported net income decreased year over year to 38.47 billion dong, or 2,314.00 dong per share, from 39.12 billion dong, or 2,768.27 dong per share.

As of Aug. 17, US$1 was equivalent to 22,094 dong.