Northern Power Development Investment Joint Stock Company 2 (code ND2) has just announced its financial report for the third quarter of 2024 with revenue reaching nearly 152 billion VND, up 4.8% over the same period. Profit after tax reached nearly 102 billion VND, up 12.3 billion VND over the same period.

Accumulated revenue in the first 9 months of the year reached over 282 billion VND, up 10.7% over the same period. Profit after tax reached 138 billion VND, up 52.8% over the same period.

According to Dien Mien Bac 2, the positive business results were due to much better rainfall in the last quarter compared to the same period last year, with electricity output reaching 36.89 million kWh. At the same time, reduced financial costs helped profits skyrocket.

Similarly, in the latest quarter, Se San 4A Hydropower JSC (code S4A) recorded a 7.02% increase in revenue over the same period, reaching VND86.9 billion. Profit after tax reached more than VND50 billion, up 20% over the same period.

Se San 4A said that due to exchange rate fluctuations, revenue from financial activities increased by VND3.6 billion, while financial expenses decreased by VND4.8 billion, which led to higher after-tax profit than the same period last year.

However, the unfavorable results in the first two quarters of the year have made Se San 4A's cumulative 9-month picture not really positive. In the first 9 months of the year, revenue reached only over 169 billion VND, down 9.1%; after-tax profit reached nearly 61 billion VND, down 20 billion VND compared to the same period.

Meanwhile, Nam Mu Hydropower JSC (code HJS) unexpectedly reported poor business results this quarter. Accordingly, revenue decreased by 15.7% compared to the same period, reaching only 36.9 billion VND; profit after tax reached 8.4 billion VND, while in the same period last year it reached more than 15 billion VND.

But the reason is that the company is still negotiating the power purchase contract with the Northern Power Corporation, and the electricity price between the two parties is temporarily determined based on operating and maintenance costs.

Nam Mu Hydropower Plant also admitted that the weather last quarter was favorable, with lots of rain, and electricity output increased more strongly than the same period last year.

According to MSB Securities, hydropower enterprises had positive results in the third quarter due to the end of the El Nino phenomenon causing widespread rainfall shortages.

In addition, the exchange rate is also a positive factor for the electricity industry in the third quarter. The USD/VND exchange rate decreased by about 2% in the third quarter of 2024. The specific capital structure of many electricity enterprises is partly financed by USD, so electricity enterprises recorded exchange rate gains in this quarter.

On the stock market, ND2, S4A and HJS shares have been trading quite stably over the past few months, at around VND35,000/share. The trading volume is only a few hundred units per session.

Mr. Nguyen Thien Tuan passed away, his son inherited more than 415 billion VND worth of shares . Construction Development Investment Corporation (DIC Corp, code DIG) has just announced that Mr. Nguyen Hung Cuong inherited more than 20.75 billion VND worth of DIG shares from the late Chairman of the Board of Directors Nguyen Thien Tuan.