DNVN - Tay Ninh Rubber Joint Stock Company (stock code: TRC) has just announced its financial report for the third quarter of 2024, in which after-tax profit reached the highest level in the past 11 years.
The separate financial report for the third quarter of 2024 of Tay Ninh Rubber Joint Stock Company (stock code: TRC) shows that the profit after tax in the third quarter of this year reached VND 58.4 billion, an increase of 216.2% over the same period last year (VND 18.4 billion).
According to TRC, the main reason comes from the increase in the average selling price of rubber latex, helping to increase profits from rubber latex trading activities by VND 26.43 billion compared to the third quarter of 2023. In addition, the area and revenue from liquidating rubber trees also increased, contributing to an increase in other operating profits by VND 13.91 billion.
Meanwhile, the consolidated financial report for the third quarter of 2024 also recorded after-tax profit of VND73.1 billion, a sharp increase of 483.1% compared to VND12.5 billion in the third quarter of last year.
TRC recorded after-tax profit in the third quarter of 2024 at VND73.1 billion, a sharp increase of 483.1% compared to VND12.5 billion in the third quarter of last year.
TRC explained that this strong growth was due to both the parent company and its subsidiary, Tay Ninh Siem Reap PTCS, benefiting from the increase in rubber latex prices. At the same time, the area and revenue from liquidating rubber trees also contributed significantly to the record high profit.
As of the end of September 2024, TRC's total assets reached more than VND 2,080 billion, an increase of more than 4% compared to the beginning of the year. Of which, short-term assets increased by 27% to more than VND 500 billion, cash increased by nearly 100% to VND 203 billion, and inventory increased by 11% to more than VND 55 billion.
In the morning trading session on October 14, TRC shares increased by nearly 7%, reaching 41,700 VND/share, with a sudden trading volume of more than 461,000 shares, marking the highest level in the past 52 weeks.
Previously, in the second quarter of 2024, TRC also recorded positive business results with net revenue reaching VND90 billion, up 31% over the same period. Profit after tax of the parent company's shareholders reached VND13 billion, up 145%, and gross profit margin improved significantly from 10% to 23.8%.
Tay Ninh Rubber Joint Stock Company is a subsidiary of Vietnam Rubber Industry Group (stock code: GVR), with a 60% ownership ratio. Established during the French colonial period, TRC has gone through many stages of development and is now one of the leading enterprises in the field of planting, exploiting and trading rubber latex, as well as manufacturing rubber wood products and investing in high-tech agriculture.
Thu An
Source: https://doanhnghiepvn.vn/kinh-te/chung-khoan/bao-lai-cao-nhat-11-nam-cao-su-tay-ninh-giai-trinh-the-nao/20241014032413031
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