DNVN - On October 17, Tay Ninh Mountain Cable Car Joint Stock Company (stock code: TCT) reported to the State Securities Commission and Ho Chi Minh City Stock Exchange (HoSE) explaining that its profit in the third quarter of 2024 decreased by nearly 90% compared to the third quarter of 2023.
The financial report for the third quarter of this year of Tay Ninh Mountain Cable Car Joint Stock Company (stock code: TCT) shows that total revenue reached VND 9.2 billion, down 15.1% over the same period last year. Meanwhile, total expenses in the third quarter of 2024 were VND 8.9 billion, up 11.2% over the third quarter of 2023. Accordingly, after-tax profit in the third quarter of this year stopped at VND 278.3 million - a long decline compared to the VND 2.3 billion recorded in the same period last year, equivalent to a decrease of 88%.
Explaining this decline, the Corporation said that due to the decrease in customers using cable cars and toboggans, revenue decreased, and maintenance costs for cable cars and toboggans increased in the quarter. As a result, after-tax profit in the third quarter decreased by nearly 90% compared to the same period last year.
According to the Corporation, the decrease in customers using cable cars and toboggans led to a decrease in revenue, while the cost of maintaining and servicing the cable car and toboggan systems increased in the quarter, causing after-tax profit in the third quarter of this year to decrease by nearly 90%.
Previously, on August 14, the Corporation also had a similar explanation about the difference in after-tax profit in the first 6 months of 2024 compared to the first 6 months of 2023.
TCT said that due to the decrease in the number of customers using the company's cable car and toboggan services, revenue in the first 6 months of 2024 decreased by 36.2% compared to the same period last year. Therefore, profit after tax in the first half of this year decreased by 45.2% compared to the same period in 2023.
According to the Corporation's audited semi-annual financial report for 2024, after-tax profit reached VND10.8 billion, a sharp decrease compared to the VND19.8 billion recorded in the first half of last year.
Tay Ninh Ba Mountain Cable Car Joint Stock Company officially came into operation in 2001 with an initial charter capital of 15.98 billion VND. The company's headquarters is at Ba Den Mountain, Ninh Phu Quarter, Ninh Son Ward, Tay Ninh City, Tay Ninh Province. Currently, Ms. Nguyen Lam Nhi Thuy holds the position of Chairwoman of the Board of Directors, Mr. Tran Trung Kien holds the position of Director and Vice Chairman of the Board of Directors.
Tay Ninh Ba Mountain Cable Car Joint Stock Company was formerly the Cable Car Department under Tay Ninh Tourism Company (now Tay Ninh Tourism and Trade Joint Stock Company). The Cable Car Department officially came into operation on March 8, 1998 with the main business function of transporting tourists and goods from the foot of the mountain to Ba Pagoda by cable car and vice versa.
Thu An
Source: https://doanhnghiepvn.vn/kinh-te/chung-khoan/loi-nhuan-quy-iii-giam-gan-90-cap-treo-nui-ba-tay-ninh-tct-giai-trinh-the-nao/20240926031024364
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