Binh Son refinery company reports 8-percent increase in after-tax profit in Q1
The Binh Son Refining and Petrochemical JSC (BSR) posted over 2 trillion VND (over 87.44 million USD) in after-tax profit in the first quarter of 2022, up 8 percent year-on-year, surpassing the yearly target by 45 percent.
Hanoi (VNA) – The Binh Son Refining and Petrochemical JSC(BSR) posted over 2 trillion VND (over87.44 million USD) in after-tax profit in the first quarter of 2022, up 8 percentyear-on-year, surpassing the yearly target by 45 percent.
According to thedocument of the firm’s annual shareholders' meeting in 2022, BSR sold nearly 1.6 million tonnes of products in Q1, equal to 25 percent ofthe target set for the year.
Total revenue hit over 35.47 trillion VND in the period, representing a surgeof 69 percent compared to the same period last year.
Despite the positive business results inthe first three months, the company has set much lower business goals for thisyear compared to last year.
It aims for 91.4 trillion VND in consolidated revenue and over 1.4 trillion VND inafter-tax profit this year, down 10 percent and 79.3 percent year-on-year, respectively.
In 2022, the firm continues to meet difficultiesdue to the COVID-19 pandemic. The demand for fossil fuels, especially gasolineand oil, is affected by the increasingly development of renewableenergy technology and the growing demand for environmentally friendly vehicles.
According to thecompany, to complete its plan in 2022, the firm will focus on nine groups ofmeasures related to business and production, market and corporate governance.
Last year, BSR’s total revenue reached 102.1trillion VND, up 74 percent year-on-year, while its after-tax profit hittingnearly 6.7 trillion VND./.
The Binh Son Refining and Petrochemical Company (BSR) reported pre-tax profits of 1.3 trillion VND (57.1 million USD) in the first quarter of 2018, up 46 percent compared to the quarterly target.
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Dung Quat Refinery of BSR (Photo: VNA) 
