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Petroleum Phuongdong Tourism Q2 profit falls YOY

Petroleum Phuongdong Tourism Joinst-Stock Co. said its second-quarter normalized net income amounted to 9.4 million dong, a decline of 98.8% from 769.4 million dong in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to 0.1% from 3.1% in the year-earlier period.

Total revenue declined 37.1% year over year to 15.39 billion dong from 24.45 billion dong, and total operating expenses fell 33.8% on an annual basis to 15.44 billion dong from 23.32 billion dong.

Reported net income came to 11.8 million dong, compared with 1.23 billion dong in the prior-year period.

As of July 21, US$1 was equivalent to 21,817.50 dong.