PV Power’s first-half post-tax profit nears 1.16 trillion VND

At the PVPower's Nhon Trach 2 thermal power plant (Photo: VNA)

Hanoi (VNA) - PetroVietnam Power Corporation (PVPower) reported a post-tax profit of 1.159 trillion VND (over 49.56 millionUSD) in the first six months of 2022, surpassing the target set for the entire year by56%.

This year, PV Power's profit plan has been adjusted down from its previously announced level. Therefore, its first-half post-tax profit, despite representing an annual decrease of 19%, still exceeded the yearly goal.

Also in the period, its electricity output reached 7.1billion kWh, reducing by 25% year-on-year.

Nguyen Dinh Thi, head of PV Power's economic planningdepartment, said that with such output decrease, the company’s revenue amountedto 14.865 trillion VND, equaling 61.3% of the yearly plan but down 5% comparedto the same previous last year.

Meanwhile, mobilised electricity prices in the first half increasedsharply, even hitting 2,000 VND per kWh sometimes.

In the last six months, PV Power is projected to facedifficulties such as a recession of the world economy, an unfavorable rainyhydrological situation, and a series of overhauled factories, including the CaMau 1, Dakrinh and Nhon Trach 1./.

VNA