HCMC – VIX Securities JSC (HOSE: VIX) reported a 41.3% drop in net profit to VND112.2 billion in the fourth quarter of 2024.
The securities firm recorded total revenue of VND544.62 billion in the quarter, up from VND341.25 billion in the same period last year. However, its costs rocketed by a staggering 308.5% to VND376.45 billion, eating into its profit.
Earnings from financial assets measured at fair value, profit and loss plummeted by 93.3% year-on-year to VND11.31 billion. In contrast, income from lending and receivables jumped by 77.6% to VND144.08 billion. Stock brokering service revenue edged up by 49.3% to VND17.5 billion.
VIX attributed the profit decline to weak market conditions in the quarter, which affected proprietary trading. Liquidity challenges further weighed on the company’s performance.
For the full year, VIX reported net profit of VND663.32 billion, down by 31.4% from 2023, despite a 13.2% rise in total revenue to VND1.84 trillion.
The company’s annual profit met 62.8% of its after-tax profit target of over VND1.06 trillion, which had been set as a 9% increase from 2023.
Closing the trading session today, January 22, VIX edged down by 1.57% to VND9,430 per share, with a total matched volume of nearly 9.7 million shares.
The VN-Index closed down by 0.29%, shedding 3.56 points to end at 1,242.53 points, with 127 winners and 311 losers. Total trading volume rose by 2.68% to over 508.8 million shares, while the value of transactions increased by 4.78% to VND12.03 trillion. Block deals accounted for 108.6 million shares worth VND2.71 trillion.
The VN30-Index, which tracks the 30 largest-cap stocks, dipped 5.09 points, or 0.39%, to 1,309.72 points due to 24 bluechips declining.
HDB, BVH, BCM, and VRE were the biggest losers, down between 1.8% and 2.9%. Three stocks managed to close higher, including SSB (+1.6%), STB (+0.8%), and SAB (+0.2%).
Bank, securities, and steel stocks were among the worst-performing sectors. HDB fell to its intraday low of VND22,000, with nearly 19.2 million shares traded, the highest volume on the southern market. Other actively traded stocks included VPB and HPG, both of which exceeded 10 million shares but posted slight losses.
In contrast, LPB outperformed its peers, rising by 4.87% to VND33,400 on volume of nearly seven million shares.
The real estate sector came under heavy selling pressure. NVL dropped by 4% to its session low of VND8,680 on volume of 11.44 million shares. DXG inched down by 1.3%, with 9.33 million shares changing hands.
The HNX-Index also declined 1.01 points, or 0.45%, to end at 220.67 points, with over 39 million shares worth VND595.3 billion transacted. The northern market saw 68 advancers and 90 decliners.
