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TIC: Explanation for business results in quarter 3/2010
Tay Nguyen Electricity Investment Joint Stock Company (HoSE: TIC) has explained business result in quarter 3/2010 decreased 9,591,404,184 dongs beside quarter 3/2009 as follows:
* Revenue decreased 129,961,750 dongs because long dryness made decrease electric production.
* Financial incomes decreased 9,453,421,209 dongs because TIC have not recorded revenue in 09 months 2010 of H’ Chan Hydroelectric Plant in joint-venture with Gia Lai Hydropower Joint Stock Company (GHC) and will record the revenue in quarter 4/2010. Beside, the dryness made decrease revenues of other hydroelectric plants.
* Other incomes decreased 8,021,225 dongs
* Total expenses increased 54,550,922 dongs in quarter 3/2010: Cost of goods sold decreased 65,798,419 dongs, financial expenses increased 66,958,740 dongs and general & administration expenses increased 53,390,601 dongs.
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