PVL: QII/2011 Business Explanation

PetroVietnam Power Land JSC (HNX: PVL) explained difference in profit after tax in the Reviewed financial statement 2011 and Quarter II.2011 as follows:

- Accumulated Profit after tax in Financial statement Quarter II.2011: VND10,181,860,933

- Profit after tax in Reviewed financial statement 2011: VND11,946,903,024

- Difference: VND1,765,042,091

Reasons for the difference:

- Decrease in accounting profit before tax: VND96,208,917

- Decrease in income tax: VND 1,539,246,470

+ Transfer of loss in 2010: VND7,348,795*25% = VND1,837,198,778

+ Decrease in income tax because accounting profit before tax decrease: VND96,208,917*25% = VND24,052,230

+ Amount transferred to Deferred income tax: VND332,004,538

- Deferred income tax: VND332,004,538

These adjustments increase the profit after tax in Reviewed financial statement by VND1,765,042,091.

HNX

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