Solavina JSC said its normalized net income for the second quarter came to 293.2 million dong, compared with income of 96.1 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 dropped to negative 10.1% from 1.0% in the year-earlier period.

Total revenue fell 60.1% on an annual basis to 4.03 billion dong from 10.10 billion dong, and total operating expenses declined 54.7% year over year to 4.45 billion dong from 9.84 billion dong.

Reported net income totaled a loss of 469.2 million dong, compared with income of 153.1 million dong, or 51.02 dong per share, in the year-earlier period.

As of July 20, US$1 was equivalent to 21,823.50 dong.