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Tuesday, July 16, 2024

PV Power sees strong revenue growth in October

The Saigon Times

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HCMC – PetroVietnam Power Corporation (PV Power) posted a 20% year-on-year increase in revenue in October, earning more than VND2.2 trillion.

The company attributed this growth to key power plants, with Ca Mau 1&2 contributing VND973 billion, Vung Ang 1 generating VND735.4 billion, and Nhon Trach 1&2 collectively contributing VND355.2 billion dong.

PV Power said the transition to the dry season in the north and south and incessant rain in the central region had led to increased water levels in hydroelectric reservoirs, influencing the overall electricity market.

On the operational front, the firm highlighted the proactive management of gas supply at the Ca Mau 1&2 plants and the optimization of output at the Vung Ang 1 plant in response to reduced market prices.

From January to October, PV Power made more than VND24.3 trillion in revenue, up 7.6% over the same period last year. The Ca Mau 1&2 plants contributed the highest share at nearly VND9 trillion, followed by Vung Ang 1 with VND6.9 trillion, and Nhon Trach 1&2 with a combined VND7.3 trillion.

Closing the trading session today, November 15, its POW shares dropped a slight 0.84% over the previous session to VND11,750 per share, with a matching volume of 9.8 million shares.

Winners far outnumbered losers on the Hochiminh Stock Exchange by a ratio of 414 to 122, sending the VN-Index up 12.77 points, or 1.15%, to 1,122.5 points.

Trading volume and value improved 14% and 15.4% versus the session earlier, respectively, with nearly 938 million shares worth VND19.6 trillion. Block deals totaled 55.7 million shares valued at VND1.3 trillion.

Securities stock VIX continued to take the lead by liquidity on the southern market, with a trading volume of around 40.2 million shares. It rose 1.2% at the close to VND16,350 per share.

On the Hanoi Stock Exchange, the HNX-Index gained 0.45 points, or a fractional 0.2% over the previous session, to 227.88 points, with 89 advancers and 65 decliners. There were 108.4 million shares worth over VND2 trillion changing hands on the northern bourse.

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