AsemconnectVietnam - PC3 - Power Investment Joint Stock Company (stock code PIC - HNX) has just announced its financial statements for the second quarter and the first half of 2023.

In the second quarter, the business recorded net revenue of VND23.1 billion, down 31.4% over the same period last year. Cost of goods sold in this period also decreased by more than 8%, to VND14.6 billion, resulting in gross profit of the enterprise reaching nearly VND8.6 billion, down more than half compared to the second quarter of 2022.
Regarding expenses, PIC's financial expenses decreased by 30% to VND1.9 billion; General and administrative expenses did not change much at more than VND3 billion. As a result, the company's profit after tax was nearly VND4 billion, down 66% compared to the same period last year.
Thanks to the positive business in the first quarter, accumulated in the first 6 months, PIC's net revenue reached VND68.5 billion and profit after tax reached more than VND25.3 billion, down 2% and 8.3% respectively compared to the first half of 2022.
As of June 30, the total assets of the enterprise reached VND454.7 billion, down more than 10.6% compared to the beginning of the year. In which, cash and cash equivalents decreased by more than 61%, to more than VND15.7 billion; Short-term receivables also decreased by 24%, to approximately VND19 billion.
At the same time, payables were also reduced by more than 47%, to VND81.4 billion because more than VND26 billion of other short-term payables (dividend and profit payable) were reduced to more than VND2.3 billion and long-term lease debt also decreased by 34% to VND70 billion.
N.Nga
Source: VITIC/Tinnhanhchungkhoan