PTC: Explanation for loss in Quarter 1, 2014

Post and Telecommunications Investment and Construction Joint Stock Company has explained business result of Quarter 4/2012 as follows:

1)     Consolidated financial statements:

Profit	Year 2014	Year 2013	Difference
Quarter 1	-6,925	-3,009	130%

-  Net revenue in Quarter 1, 2014 was by VND4,014 million as 38% revenue in Quarter 1, 2013 while general & administration expense didn’t decrease, which led to net profit decreased by VND877 million. Additionally, in Quarter 1, 2014 the company recorded penalty on delayed payment of tax by VND2,793 million and delayed work in progress by VND288 million, which made to other profit lost by VND3,082 million.

2)     Financial statements of parent company:

Profit	Year 2014	Year 2013	Difference
Quarter 1	-7,13	-3,073	132%

-  Net revenue in Quarter 1, 2014 was by VND4,014 million as 38% revenue in Quarter 1, 2013 while general & administration expense didn’t decrease, which led to net profit decreased by VND971 million. Additionally, in Quarter 1, 2014 the company recorded penalty on delayed payment of tax by VND2,793 million and delayed work in progress by VND288 million, which made to other  profit lost by VND3,082 million.

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