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IDI International Q2 profit falls YOY

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IDI International Q2 profit falls YOY

I.D.I International Development and Investment Corp. said its normalized net income for the second quarter came to 305.43 dong per share, a decrease of 47.8% from 584.94 dong per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 24.18 billion dong, a decrease of 21.8% from 30.92 billion dong in the prior-year period.

The normalized profit margin dropped to 4.5% from 4.9% in the year-earlier period.

Total revenue fell 9.0% on an annual basis to 571.54 billion dong from 628.31 billion dong, and total operating expenses decreased 9.5% on an annual basis to 511.30 billion dong from 565.23 billion dong.

Reported net income totaled 42.67 billion dong, or 539.00 dong per share, compared to 43.05 billion dong, or 814.47 dong per share, in the prior-year period.

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