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KLF Joint Venture Q3 profit falls YOY

KLF Joint Venture Global Investment JSC said its third-quarter normalized net income amounted to 25.93 dong per share, a decrease of 93.0% from 372.03 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 4.33 billion dong, a decline of 84.4% from 27.71 billion dong in the prior-year period.

The normalized profit margin declined to 1.4% from 17.7% in the year-earlier period.

Total revenue increased 98.3% year over year to 309.99 billion dong from 156.32 billion dong, and total operating expenses rose from the prior-year period to 306.13 billion dong from 148.87 billion dong.

Reported net income declined 85.9% from the prior-year period to 5.01 billion dong, or 30.00 dong per share, from 35.38 billion dong, or 475.00 dong per share.

As of Nov. 17, US$1 was equivalent to 22,477.50 dong.