IPA Investment (IPA) buys back 150 billion VND of bonds

IPA Investment Group Corporation (Code: IPA) has just announced the purchase of 150 billion VND of bonds with code IPAH2124003. This is a bond lot issued on December 20, 2021, with a term of 3 years and an interest rate of 9.5%/year, with a total face value of about 1,000 billion VND.

The purchase of VND150 billion of bonds three months before maturity has helped IPA Investment Group reduce its total bond debt to VND310 billion.

IPA Investment (Code: IPA) buys back 150 billion VND of bonds before maturity (Photo TL)

Regarding the use of capital, as of the end of the second quarter of 2024, IPA Investment Group recorded VND 4,137 billion in short-term and long-term debt, down 5.8% compared to the beginning of the year. The amount of debt is almost equal to the owner's equity, showing a significant risk in business operations.

In the second quarter of 2024, IPA Investment recorded net revenue of VND 163.5 billion, more than 3 times higher than the previous year. However, profit after tax reached VND 87.9 billion, down 42.6% over the same period.

Notably, during the period, financial expenses increased by 4 times, accounting for 134.9 billion VND, showing that debts are putting great pressure, dragging down the company's profits. Sales expenses and business management expenses also increased by 30.7% and accounted for 18 billion VND.

Accumulated revenue in the first half of 2024, IPA Investment recorded net revenue of 249 billion VND, double compared to the same period. Profit after tax reached 192.7 billion VND. Compared to the target set for 2024, pre-tax profit of 209.1 billion VND, IPA Investment has currently completed 49.2% of the yearly plan.

Source: https://www.congluan.vn/chi-phi-tai-chinh-doi-len-gap-4-lan-dau-tu-ipa-ipa-mua-lai-150-ty-dong-trai-phieu-post316364.html