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IDI International Q3 profit falls YOY

I.D.I International Development and Investment Corp. said its third-quarter normalized net income amounted to 184.90 dong per share, a decrease of 46.3% from 344.48 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 14.47 billion dong, a decrease of 17.5% from 17.55 billion dong in the year-earlier period.

The normalized profit margin fell to 2.1% from 3.7% in the year-earlier period.

Total revenue rose 47.4% on an annual basis to 692.46 billion dong from 469.87 billion dong, and total operating expenses rose 49.5% on an annual basis to 641.64 billion dong from 429.07 billion dong.

Reported net income declined 18.2% from the prior-year period to 22.54 billion dong, or 288.00 dong per share, from 27.55 billion dong, or 540.87 dong per share.

As of Nov. 16, US$1 was equivalent to 22,445 dong.