Ngan Son JSC said its normalized net income for the second quarter amounted to 80 Vietnamese cents per share, a decline of 98.0% from 39.26 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 8.9 million dong, a decline of 97.6% from 372.5 million dong in the year-earlier period.

The normalized profit margin fell to 0.0% from 0.4% in the year-earlier period.

Total revenue increased 31.9% on an annual basis to 134.87 billion dong from 102.28 billion dong, and total operating expenses increased 40.3% on an annual basis to 131.63 billion dong from 93.82 billion dong.

Reported net income fell 97.6% on an annual basis to 11.1 million dong, or 1 dong per share, from 464.9 million dong, or 49.00 dong per share.

As of July 22, US$1 was equivalent to 21,821 dong.