DNVN - According to the consolidated business results of the Construction Investment Development Corporation (stock code: DIG), net revenue in the third quarter of 2024 was VND 47.2 billion, a decrease of 80.1% compared to the same period last year, and after-tax profit reached only VND 11.2 billion, a decrease of 7.2% compared to the third quarter of 2023.
The Development Investment Construction Corporation (DIC Group, stock code: DIG) has just released a report explaining its revenue and after-tax profit for the third quarter of 2024 compared to the same period in 2023.
According to the parent company's business performance report, net revenue in the third quarter of 2024 reached VND 81.2 billion, a decrease of 38% compared to the same period last year. Profit after tax reached VND 45.7 billion, an increase of 47.6% compared to the same period last year.
Meanwhile, according to consolidated business results, net revenue in the third quarter was VND 47.2 billion, a sharp decline compared to VND 237.7 billion recorded in the same period last year, representing a decrease of 80.1%. Net profit after tax reached only VND 11.2 billion, down 7.2% compared to the third quarter of 2023.
DIC Group's net revenue in the third quarter of 2024 was VND 47.2 billion, a decrease of 80.1% compared to the same period last year, while after-tax profit reached only VND 11.2 billion, a decrease of 7.2% compared to the third quarter of 2023.
According to DIC Group, the fluctuations in net revenue and after-tax profit in the parent company's Q3 financial report compared to the same period last year are mainly due to a decrease of VND 49.9 billion in Q3/2024 revenue, equivalent to a 38% decrease. In addition, financial revenue increased by VND 17.1 billion, equivalent to a 214% increase, while administrative expenses decreased by VND 16.8 billion. These factors resulted in an increase of VND 14.7 billion in after-tax profit, equivalent to a 47.6% increase compared to the same period last year.
In the consolidated financial statements, in addition to the main fluctuations mentioned above in the parent company's financial statements, there are also key changes such as a 10.3% increase in revenue from the sale of finished goods (material production), a decrease of 190.8 billion VND in real estate revenue, a 151.3% decrease in revenue from real estate, and a 2.5% increase in revenue from construction activities at subsidiaries.
These fluctuations resulted in a decrease of VND 190.4 billion in net revenue on the consolidated report for the third quarter of 2024 – a decrease of 80.1% – and a decrease of VND 0.87 billion in after-tax profit, a decrease of 7.2% compared to the same period last year.
The Vietnam Construction Investment and Development Corporation (CTCP Đầu tư Phát triển Xây dựng) was established in 1990, formerly known as the Ministry of Construction's guesthouse. In 2009, the company's shares were listed on the HOSE stock exchange. The company's main activities include investment and development of new urban areas and industrial parks; housing and urban infrastructure development; construction of industrial and civil works, and infrastructure projects; and production and trading of various types of construction materials.
At the October briefing held on October 14th, Mr. Nguyen Quang Tin - General Director of DIC Group - stated that in the fourth quarter of 2024, the company will prioritize completing the legal procedures for projects, increasing charter capital, completing project transfers as planned, developing sales plans, and focusing on debt recovery from projects.
Regarding the leadership structure, Mr. Nguyen Hung Cuong was recently elected as Chairman of the Board of Directors and legal representative of DIC Group on August 16th. Mr. Cuong replaced Mr. Nguyen Thien Tuan, the former Chairman of the Board of Directors of DIC Corp, who passed away on August 10th. Mr. Nguyen Hung Cuong, born in 1982, holds a Bachelor's degree in Civil Engineering and a Master's degree in Business Administration. He is the son of the late businessman Nguyen Thien Tuan and has a long-standing relationship with the group.
Thu An
Source: https://doanhnghiepvn.vn/kinh-te/chung-khoan/dic-giai-trinh-doanh-thu-quy-iii-2024-boc-hoi-hon-80/20241030061108319
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