BTP: Explanation for business result in Quarter 3/2013

Ba Ria Thermal Power Joint Stock Company (BTP) explained the reasons causing the decrease in profit of Quarter 3/2013 compared to profit of Quarter 3/2012 as follows:

-         The Company is negotiating with the Vietnam Electricity (EVN). Therefore, the electricity price for 2013 is temporarily equal to the price for 2012, and pricing parameters are calculated like 2012. After having an official electricity price for 2013, BTP will adjust its revenue for 2013.

-         According to Circular 179/2012/TT-BTC dated 10/24/2012, BTP assessed the exchange rate difference of loans in foreign currency at the end of quarter. So, the unrealized foreign exchange loss in Quarter 3/2013 was VND36.5 billion.

-         Therefore, BTP’s profit in Quarter 3/2013 decreased compared to the same period of last year.

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