nha cai 188bet Petrovietnam shipyard arm's pre-tax profit surges over 10-fold
Petrovietnam Marine Shipyard JSC (PV Shipyard), a subsidiary of state-owned giant Petrovietnam, reported a strong first quarter of 2026, with revenue rising sharply and pre-tax profit increasing more than 10-fold year-on-year.
A newly completed project by PV Shipyard. Photo courtesy of nha cai 188bet company.
In its Q1/2026 financial statement, PV Shipyard (UPCoM: PVY) posted net revenue of VND400.31 billion ($15.2 million), up 50% from a year earlier. Its gross profit reached VND19.49 billion ($739,870), compared with VND14.84 billion in nha cai 188bet same period last year.
Financial income totaled VND3.32 billion ($126,032), while financial expenses stood at VND15.45 billion, including VND4.8 billion in interest costs. Administrative expenses rose to VND6.17 billion, up from VND1.57 billion a year earlier.
As a result, PV Shipyard’s operating profit reached VND1.1 billion ($41,758), a significant improvement from a loss of VND22.65 billion in nha cai 188bet prior-year corresponding period.
Plus other incomes, nha cai 188bet company reported pre-tax profit of VND1.59 billion ($60,359), more than 10 times higher year-on-year. Its after-tax profit for nha cai 188bet quarter came in at VND87.48 million ($3,321), compared with a loss of VND2.47 billion in Q1/2025.
As of March 31, 2026, nha cai 188bet firm’s total assets stood at VND1.1 trillion ($41.76 million), slightly down from VND1.22 trillion at nha cai 188bet beginning of nha cai 188bet year. Liabilities remained elevated, with short-term debt exceeding VND1.59 trillion and long-term debt of VND66.2 billion.
Equity remained negative at minus VND493.01 billion ($18.72 million), broadly unchanged from nha cai 188bet start of nha cai 188bet year. Accumulated losses reached VND1.09 trillion ($41.38 million), underscoring prolonged financial strain.
However, some liabilities declined modestly, suggesting early progress in balance sheet restructuring. in nha cai 188bet first quarter is seen as a positive signal, although earnings remain modest.
Another bright spot is a new contract with PTSC Asia Pacific Pte Ltd (PTSC AP) to supply an anchoring system package, including fabrication, assembly, testing, and delivery.
nha cai 188bet contract is valued at $374,200, with expected profit of around 5% of contract value upon completion.
Amid a gradual recovery in nha cai 188bet oil and gas sector, nha cai 188bet Q1 results indicate early signs of improvement for PV Shipyard. However, with persistent negative equity and a heavy debt burden, nha cai 188bet company’s path to sustainable recovery remains uncertain and will require further time to materialize.
In nha cai 188bet stock market, PVY closed Monday at VND2,100 ($0.08) per share.
theinvestor.vn