HCMC – Nam Kim Steel JSC (HOSE: NKG) reported a 52.5% drop in after-tax profit in the first nine months of 2025 due to lower revenue and slimmer margins.
The steel producer posted VND49.53 billion in net profit in the third quarter, taking its nine-month profit to VND206.53 billion, meeting 57.3% of its full-year target.
Its third-quarter revenue fell 27.3% year-on-year to VND3.77 trillion, while its net profit in this period dropped 23.6%. The firm’s gross margin narrowed to 4.8% from 8.7%.
Its gross profit slid 60.1% to VND180.08 billion and financial income fell 12.4%, while financial expenses dropped 45.7%. Selling and administrative expenses decreased 64.9%. Other income showed little change.
The company said cost reductions helped soften the impact of lower gross profit. In January–September, NKG recorded VND11.67 trillion in revenue, down 27.7% year-on-year, while net profit plunged 52.5%.
NKG looks to achieve output of 1.05 million tons in 2025, obtain revenue of VND23 trillion and a pre-tax profit of VND440 billion, down 21.1% from 2024. The firm earned VND252.2 billion in pre-tax profit in the first nine months of the year.
Closing the trading session today, October 31, NKG edged up 0.31% to VND16,000, with over 5.5 million shares changing hands.
Vietnam’s benchmark VN-Index fell on Friday as losses in large-cap stocks weighed on the market at the end of October.
The VN-Index closed down 29.92 points, or 1.79%, at 1,639.65, with 127 gainers and 190 decliners. Trading volume rose 5% from the previous session to 837.8 million shares, while value increased 14% to VND27.19 trillion. Block deals accounted for 68.5 million shares worth VND2.95 trillion.
The index lost 43.5 points this week, or 2.58%, and dropped more than 22 points in October, or 1.32%,.
VIC and VHM put the strongest pressure on the market, driving the index down by a combined 15 points. VIC fell 6.4% to VND191,000, while VHM dropped 4.6% to VND99,200. Bank stocks including VPB, STB, SHB, TPB and HDB also declined, along with VRE and VJC, losing between nearly 2% and more than 4%.
VIX was the most actively traded stock on HOSE with 47.7 million shares, also declining.
On the other hand, GAS gained nearly 4% to VND61,600, while DGC and GVR advanced about 2.5%. Other gainers such as SAB, MSN, VNM, FPT and ACB rose slightly.
On the Hanoi Stock Exchange, the HNX-Index slipped 1.11 points, or 0.42%, to 265.85. The bourse reported 66 gainers and 92 decliners, with 82.6 million shares traded, valued at VND1.83 trillion.
