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NBP: Explanation for the change of over 5% in operating result in QI- 2010
According to the Financial Statement Quarter I/2010, net income increased VND 8,144 mil (38%) compared to Quarter I/2009. Ninh Binh Thermal Power Joint-stock Company explained the increase in operating result in QI/ 2010 as follows:
- The selling price of electricity of Quarter I/2010 increased VND 102,5/kwh compared to Quarter I/2009. So the profit before tax just increased by VND 19,322 mil (188.41 mil kwh x VND102.5/kwh))
- The price of material (coal, petrol) of Quarter I/2010 increased, material expenses is therefore increased, revenue of Quarter I/2010 decreased VND 14,606 mil compared to Quarter I/2009.
- Some fixed assets are fully depreciated, depreciation expense of Quarter I/2010 is therefore decreased, so the profit after tax just increased by VND 6,937 mil
- Due to the money depreciation, some other expenses have been increased, causing the profit after tax of Quarter I/2010 decreased compared to Quarter I/2009 by VND 2,674 mil
- And Other reasones caused the Profit after tax of Electrictity production of Quarter I/2010 increased VND 8,355 mil compared to Quarter I/2009.
- Other profits of Quarter I/2010 decreased VND 211 mil compared to Quarter I/2009 due to the consumption of calcium carbide decreased.
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