VNDirect Securities Corporation has generated an after-tax profit of 43.3 billion VND (over 2 million USD) in the third quarter this year, 90 percent higher than the figure recorded in the same period last year.

According to the firm’s latest financial statement, its revenue sharply rose by 122.4 percent to 114.2 billion VND (5.38 million USD) during the period.

Of the figure, brokerage accounted for the biggest proportion, reaping 50 billion VND (over 2.35 million USD), a year-on-year surge of 254 percent, whilst earnings from securities trading topped 14.7 billion VND (nearly 692,700 USD), up 61 percent.

Other major earnings came from interest incomes and margin loans
Meanwhile, VNDirect’s operational expenses jumped almost tenfold to 29 billion VND (1.37 million USD) with brokerage costs jumping from 2.7 billion VND to 13.9 billion VND.

The firm also paid 3.5 billion VND of provision for short-term investment diminution.

As a result, VNDirect earned 313.8 billion VND (nearly 14.8 million USD) in revenue during the first nine months of 2014, up 65 percent year on year, and 121 billion VND (5.7 million USD) in net profit, up 3 percent.-VNA