HCMC – PetroVietnam Power Corporation (HOSE: POW) saw its net profit in the second quarter leap three times over the same period last year to VND450 billion.
The firm attributed the strong growth to the core operations of its parent company and higher profit from the Dakdrinh hydropower plant.
The company’s revenue in quarter 2 rose by 12% year-on-year to VND9.40 trillion, taking the total in the first half to VND15.65 trillion, slightly down from the year-ago period.
January-June net profit dropped by 20% over the same period last year to VND667 billion.
PV Power looks to obtain over VND31.7 trillion in revenue and VND824 billion in net profit this year. By the middle of this year, the company had realized 49% of its 2024 revenue target and 81% of its profit target for the year.
Closing the trading session today, August 2, POW gained 4.94% over the previous session to VND13,800 per share, with more than 10.7 million shares traded.
The VN-Index of the Hochiminh Stock Exchange recovered sharply on Friday. The market opened weak with selling pressure driving a morning decline. The benchmark index dropped to 1,210 points in early afternoon trade due to a sell-off.
However, this decline spurred buying demand. The VN-Index regained momentum within an hour, closing up by nearly 30 points from the session’s low.
The index ended the trading session at 1,236.6 points, up by 9.64 points, or 0.79%, over the previous day, with 267 winners and 160 losers.
Trade dropped 22.3% in volume and 23.4% in value over the session earlier, with over 696.6 million shares worth nearly VND16.4 trillion changing hands. Block deals accounted for roughly 39 million shares worth over VND720 billion.
The VN30-Index, which tracks the 30 largest-cap stocks, advanced by more than nine points to 1,281.01 points, with 22 advancers and six decliners.
VCB was the biggest loser, falling 2.2% to close at VND88,700 per share. Conversely, PLX and POW led the pack of gainers, with each rising by 4.9%.
Securities broker VIX took the lead by liquidity on the southern market, with over 24.8 million shares changing hands. It was closely followed by lender SHB, which posted a matching volume of 24.4 million shares.
On the Hanoi Stock Exchange (HNX), 94 stocks rose and 71 others fell. The HNX-Index gained 2.33 points, or 1.02%, to end at 231.56 points. Trading volume was nearly 56.5 million shares valued at over VND1 trillion.
