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Kinh Do Q3 profit falls YOY

Kinh Do Corp. said its normalized net income for the third quarter amounted to 58.64 billion dong, a fall of 76.9% from 253.80 billion dong in the year-earlier period.

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

The normalized profit margin fell to 11.3% from 13.6% in the year-earlier period.

Total revenue declined 72.3% on an annual basis to 517.75 billion dong from 1.872 trillion dong, and total operating expenses decreased 63.0% from the prior-year period to 553.55 billion dong from 1.497 trillion dong.

Reported net income came to 80.17 billion dong, compared with 358.82 billion dong in the year-earlier period.

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