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Novaland gains hefty profit in Q4/2023

The Saigon Times

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HCMC – No Va Land Investment Group Corporation (Novaland), whose NVL shares are traded on the Hochiminh Stock Exchange, has announced that it achieved VND1,642 billion in profit in the fourth quarter of last year.

According to Novaland’s Q4/2023 financial statement, the company made nearly VND2,032 billion in revenue between October and December 2023, plunging by 37.34% over the same period last year.

However, it recorded an impressive profit of over VND1,642 billion, mainly backed by earnings from financial activities, investment cooperation contracts, and securities trading.

Last year saw Novaland’s revenue plunging by 57.2% compared to the previous year to VND4,771 billion. The company made VND684.8 billion in after-tax profit, sliding by 68.8% against the previous year.

Closing the trading session today, February 2, NVL rose by 1.8% to VND17,000 per share and took the lead by liquidity on the southern market with 66.16 million shares transacted.

With 199 advancers and 267 decliners, the VN-Index of the Hochiminh Stock Exchange lost 0.47 point, or 0.04%, against the day earlier to 1,172.55 points.

There were more than 914.67 million shares worth over VND20 trillion traded on the southern bourse, up 34.48% in volume and 31.08% in value. Block deals contributed around VND2.4 trillion to the overall value, with 123.92 million shares changing hands.

The VN30 basket saw 16 stocks rising and 10 others declining. Among those, GVR stole the spotlight as it rose 2.7% day-on-day to VND24,600 per share.

On the northern bourse, the HNX-Index of the Hanoi Stock Exchange moved sideways at 230.56 points, only 0.01 point lower than yesterday’s session, with 72 winners and 92 losers. Over 74.8 million shares worth VND1.39 trillion were traded on the northern market.

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