AsemconnectVietnam - In the first half of 2025, Quang Ninh Thermal Power achieved VND363.2 billion in profit after tax, down 6.5% compared to the same period last year, but completed nearly 79% of the annual profit target.

According to the financial report for the second quarter of 2025, Quang Ninh Thermal Power Joint Stock Company (code QTP) recorded net revenue of VND2,864 billion, down more than 21% compared to the same period last year. Along with the decrease in revenue, the cost of goods sold in the second quarter decreased by 24%, down to VND2,597 billion, helping gross profit increase by nearly 26% compared to the same period, reaching VND267 billion.
This period, QTP's financial revenue skyrocketed to more than VND2.1 billion, nearly 20 times higher than VND109 million in the same period last year. Thanks to QTP's reduced loan balance, the company's financial expenses in the second quarter also decreased by nearly 30%, down to VND4.77 billion.
After deducting expenses and taxes, QTP's after-tax profit in the second quarter of 2025 reached VND190.6 billion, an increase of nearly 18% over the same period.
Accumulated in the first half of 2025, Quang Ninh Thermal Power's net revenue reached VND5,776 billion, down nearly 13% over the same period in 2024. After-tax profit in the first 6 months of the year decreased by 6.5%, to VND363.2 billion.
In 2025, Quang Ninh Thermal Power sets a business target with revenue of nearly VND11,933 billion and after-tax profit of VND460 billion. With the above results, QTP has completed nearly 79% of the annual profit target.
By the end of the second quarter of 2025, the total assets of the enterprise were at VND6,975 billion, down 6% compared to the beginning of the year. Of which, QTP's cash and cash equivalents decreased slightly to VND32 billion; short-term financial investments decreased by more than 19%, to VND421.5 billion. In addition, the enterprise's short-term receivables also decreased by 3.4%, to VND2,859.4 billion.
On the other hand, QTP still has VND1,718 billion in payables, down 27% compared to the beginning of the year. QTP's short-term and long-term financial loans are VND100 billion and VND17.75 billion, respectively.
N.Nga
Source: VITIC/Tinnhanhchungkhoan