DIC Corp (DIG) wants to borrow 2,000 billion VND to cover expenses

Recently, the Board of Directors of Construction Development Investment Corporation - DIC Corp (Code DIG) has approved the policy of borrowing capital from banks with a limit of up to 2,000 billion VND. The purpose of the loan is to pay for expenses related to investment development. The loan implementation period is the fourth quarter of 2023.

Regarding business performance, in the third quarter of 2023, DIG recorded net revenue of VND 235.2 billion, down 44.5% year-on-year. Cost of goods sold accounted for VND 168.3 billion, gross profit reached VND 66.9 billion, equivalent to a gross profit margin of 28.4%.

DIG plans to borrow an additional 2,000 billion VND from banks to cover expenses (Photo TL)

Financial revenue in the period reached VND10.8 billion, down 27.5%. Meanwhile, financial expenses also decreased nearly 4 times to only VND11.6 billion. Notably, DIG recorded a loss of VND360 million in the operations of its joint venture.

Selling expenses and administrative expenses accounted for VND9 billion and VND37.6 billion respectively, both of which were reduced compared to the same period last year. Profit after corporate income tax reached VND12.1 billion while the same period last year saw a loss of nearly VND1 billion. The improvement was due to the company cutting sales expenses and administrative expenses in the third quarter.

In terms of asset structure, at the end of the third quarter, DIG recorded total assets of VND 14,143 billion. Of which, short-term assets accounted for the majority with VND 11,202.1 billion. The company is also recording an increase in inventory, up to VND 6,276.9 billion.

In DIC Corp's capital, payables tend to decrease slightly, to 6,262.3 billion VND. However, short-term debt tends to increase, accounting for 4,141 billion VND. DIC Corp's short-term debt currently accounts for 855.1 billion VND. Long-term debt accounts for 1,954.2 billion VND.

Source: https://www.congluan.vn/dic-corp-dig-muon-vay-2000-ty-dong-de-trang-trai-chi-phi-post276991.html