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.
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