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BKC: Explanation for decrease of profit in quarter 3/2013 of more than 10%
On 18/10/2013, Bac Kan Mineral Joint Stock Company explained decrease of profit in quarter 3/2013 of more than 10% compared to quarter 3/2012 as follows:
Revenue of the Company was mainly from sale of mineral products but in quarter 3/2013, there was no mineral product sold. Thus, revenue from sale and services in Q3 was VND 209 million.
The Company had no mineral product sold because sources of material were mainly provided from Bang Lang Exploitation Enterprise in Na Bop and Pu Sap pit, which were expired so the enterprise must temporarily stop operation. During the time, expenses were still arising such as labor expense, electricity, maintenance expense, management expense, etc. so in quarter 3/2013, the Company got loss of VND 3,693 million.
In quarter 3/2012, the Company sold mineral products in stock with revenue of VND 14,470 million so in quarter 3/2012, the Company got loss of VND 3,140 million.
Accordingly, profit after tax of quarter 3/2013 decreased VND 553 million compared to quarter 3/2012.
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