Cash, bank deposits of Dung Quat refinery operator climb to $1.5 bln
Cash and bank deposits of Binh Son Refinery and Petrochemical JSC, which operates the Dung Quat oil refinery, reached nearly $36.47 trillion ($1.5 billion) by the end of Q3/2023, an increase of $446.5 million or 31.4% year-on-year.
Dung Quat, located in Quang Ngai province, is one of the two operational oil refineries in Vietnam. The other is Nghi Son in Thanh Hoa province.
The total assets of the company, registered on the unlisted public company market UPCoM as BSR, reached VND88.92 trillion ($3.62 billion), rising by about VND10.4 trillion ($424 million) compared to the beginning of the year, according to its Q3 financial statement.
This fluctuation came from the sharp increase in the amount of cash and deposits of BSR. By September 30, 2023, its amount of cash and deposits had hit nearly VND36.47 trillion ($1.5 billion), accounting for 41% of total assets, of which cash was about VND600 million ($24,450).
This huge amount of deposits brought BSR nearly VND1.18 trillion ($48 million) in bank deposit interest in the first nine months, compared to over VND610 billion ($24.9 million) in the same period last year.
BSR’s liabilities reached VND34.05 trillion ($1.39 billion), up 25% after nine months.
Company revenue reached VND105.49 trillion ($4.3 billion) in the period, down 17% over the same period last year. Its profit after tax was VND6.19 trillion ($252 million), down 52% year-on-year.
The firm has targeted revenue of VND95.65 trillion ($3.9 billion) and profit after tax of VND1.63 trillion ($66.3 million) in 2023. It had exceeded the targets after the nine months.
BSR closed the Monday session at VND18,700 ($0.76).
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