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Mobile World Investment Corp. swings to profit in Q2

Mobile World Investment Corp. said its normalized net income for the second quarter was 636.31 dong per share, compared with a loss of 680.40 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 177.82 billion dong, compared with a loss of 190.52 billion dong in the year-earlier period.

The normalized profit margin rose to negative 5.1% from negative 5.5% in the year-earlier period.

Total revenue climbed 53.9% on an annual basis to 5.363 trillion dong from 3.485 trillion dong, and total operating expenses rose 53.7% year over year to 5.087 trillion dong from 3.310 trillion dong.

Reported net income came to 221.24 billion dong, or 791.49 dong per share, compared to a loss of 162.75 billion dong, or a loss of 581.24 dong per share, in the year-earlier period.

As of Aug. 7, US$1 was equivalent to 21,815 dong.