The total after-tax profit in Q2/2024 of these 238 enterprises increased by 15.91% over the same period in 2023, a sharp reversal from the 15.41% decrease of the 53 enterprises announced last time.
As of July 21, 2024, 238 enterprises representing 24% total capitalization value on HOSE, HNX and UPCoM have provided estimated business results or announced financial reports for the second quarter of 2024, according to statistics from FiinTrade.
In which: Total profit after tax in Q2/2024 of these 238 enterprises increased by 15.9% compared to the same period in 2023, slowing down compared to the growth rate of the previous Q1 of 24.6%, mainly due to the Non-financial group.
Profit growth in the second quarter was mainly contributed by the Banking group (MBB, LPB), Securities (SSI, VCI, HCM, SHS), Construction (CII, HBC, SBM, NHA), Residential real estate (VHM), Steel (TMG, KTL), Water transport (VOS, VTO), Fertilizer (LAS, DDV, BFC)...
Loc Phat Vietnam Commercial Joint Stock Bank (LPBank) is the first bank to announce its business results for the second quarter of 2024. Notably, the bank's profit growth in the last quarter reached three digits.
Specifically, LPBank recorded pre-tax profit in the first 6 months of the year reaching VND5,919 billion, an increase of VND1,42% compared to the same period. Previously, the bank's pre-tax profit in the first quarter reached over VND2,886 billion. With a profit in the second quarter of over VND3,033 billion, LPBank recorded profit growth in 2 consecutive quarters and increased nearly 3.5 times compared to the same period last year.
Techcombank (TCB) recorded pre-tax profit of parent bank in Q2/2024 reaching VND8,122 billion, an increase of 59% over the same period in 2023. Meanwhile, consolidated pre-tax profit in Q2/2024 was VND7,827 billion, an increase of 38.5% over the same period. This is also Techcombank's record quarterly profit.
MBB also estimated that its profit increased by nearly 161% over the same period, reaching 5,776 billion VND.
In the market, cash flow is concentrated and continues to increase in the large-cap VN30 group, mainly from banking stocks, while the mid-cap VNMID and small-cap VNSML groups are less attractive to cash flow. The total trading value of banking stocks in the VN30 has increased dramatically by 56% in the past week, equivalent to an increase of 7,000 billion. The total trading value reached approximately 20,000 billion. Four stocks with particularly strong cash flow are MBB (+242%), CTG (136%), ACB (120%) and BID (115%)
On the contrary, the groups that recorded a decrease in profits compared to the same period were Airports (ACV), Gas (GAS), Electricity (SBH, NT2, QTP, HND), Plastic pipes (BMP), Pharmaceuticals (DHG, IMP).
Thus, compared to the last published figures, corporate profits in the second quarter reversed and increased sharply. Previously, as of July 17, 2024, 53 enterprises representing 7.8% of total capitalization on HOSE, HNX and UPCoM had provided estimated business results or announced financial reports for the second quarter of 2024, according to statistics from FiinTrade.
In which: Total profit after tax in Q2/2024 of these 53 enterprises decreased by -15.4% compared to the same period in 2023, reversing the growth rate of 16.6% in the previous Q1.
The groups with sharp profit decline compared to the same period are Airports (ACV), Gas (GAS), Electricity (QTP, HND, PPC, S4A), Plastic pipes (BMP).
Source: VnEconomy
