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Binh Son Refining and Petrochemical (BSR) reached VND3,260 billion profit after tax, cash increased by VND7,000 billion in Q3/2023 

 Tuesday, November 14,2023

AsemconnectVietnam - Accumulated for 9 months, BSR recorded revenue of VND105,490 billion, profit after tax for parent company shareholders was VND6,232 billion, down 16.8% and 51.9% respectively compared to the same period last year.

Binh Son Refining and Petrochemical Joint Stock Company (code: BSR - UPCoM) has just announced its financial statements for the third quarter of 2023 with net revenue reaching VND37,755 billion, down 3% over the same period last year. However, cost of goods sold decreased more sharply by nearly 13% to VND33,925 billion, helping gross profit increase 5.8 times to VND3,830 billion.
Revenue from financial activities reached VND420 billion, an increase of 21.5% over the same period last year. The company's financial expenses, sales expenses and corporate management expenses all increased during the period.
As a result, BSR recorded VND3,260 billion in profit after tax for parent company shareholders, 6.8 times higher than the same period last year. EPS reached VND1,052.
According to BSR's explanation, in the third quarter of 2023, crude oil prices in July increased from 80.05 USD/barrel to 94 USD/barrel in September 2023. Besides, the gap between product prices and crude oil prices in the third quarter of 2023 is better than the third quarter of 2022. With the advantage of rising crude oil prices and a good price gap, production and business activities in the third quarter of 2023 have been more favorable than the same period last year.
Accumulated for 9 months, BSR recorded revenue of VND105,490 billion, profit after tax for parent company shareholders was VND6,232 billion. With this result, the business has far exceeded the yearly plan of nearly VND1,700 billion.
BSR's total assets as of September 30 reached VND88,917 billion, an increase of VND10,000 billion compared to the beginning of the year. In particular, the amount of deposits and cash of businesses accounts for the largest proportion of total assets, at VND36,496 billion, an increase of more than VND12,000 billion after 9 months and an increase of more than VND7,000 billion after one quarter.
As of the end of the third quarter of 2023, BSR's total financial debt is at VND9,052 billion, all of which are short-term debt. Equity reached VND54,967 billion, of which owner's contributed capital was VND31,004 billion, undistributed after-tax profit was VND13,928 billion.
N.Nga
Source: VITIC/Tinnhanhchungkhoan
 

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