home Best News, Business, Featured, Finance In the first quarter, VietJet Air’s parent company reached VND5,095 billion, rising 43%

In the first quarter, VietJet Air’s parent company reached VND5,095 billion, rising 43%

The after tax profit of VietJet Air’s parent company is about VND382 billion, rising 7% compared with the Q1 / 2016.

VietJet Air Joint Stock Company (VietJet Air) (code: VJC) has announced its separate financial statement for the first quarter of 2017.
According to the separate financial statement, the parent company of VietJet Air reached over VND 5,095 billion in the revenue, an increase of 43% over the same period of 2016.
Gross profit margin of the parent company in the Q1 was 15%, dropping nearly 18% in the Q1/2016.
VietJet’s financial expenses increased nearly 74% to over VND177 billion. In particular, the interest expense was over VND60 billion, rising 72% over the Q1/2016.
Selling and administration expenses increased by 22% and 20% respectively over the same period in 2016.
The profit after corporate income tax was around VND382 billion, rising 7% compared with Q1/2016.
According to the financial statement, the end of the first quarter, VietJet’s parent company had about VND2,778 billion in cash and equivalent to cash, accounting for 26% of its short-term assets.
Short term receivables increased by 30% to VND7,685 billion. In particular, the deposit for the purchase of aircraft is mainly, about more than VND 5,145 billion, more than VND1,000 billion is the contribution to the aircraft maintenance fund.
Long-term receivables are about VND6,467 billion, rising 27% over the Q1/2016, with about VND2,310 billion coming from the maintenance fund for chartered aircraft and about VND2,814 billion of aircraft purchase deposits.
Total liabilities were VND16,515 billion, slightly rising 7% over the same period in 2016. In the short-term loan of VND6,763 billion, it mainly comes from the Bank for Investment and Development of Vietnam of VND2,370 billion and the The Vietnamese Industry and Trade Joint Stock Commercial Bank of VND1,835 billion in VND and VND464 billion in US.

Details of short-term loans of VietJet Air in Q1 (Source: Q1 financial statements)
Details of short-term loans of VietJet Air in Q1 (Source: Q1 financial statements)

In addition, the long-term loan of around VND695 billion in USD of the Military Commercial Joint Stock Bank of Vietnam will mature in 2018.
Net cash flow from operating activities of VietJet Air reached nearly VND592 billion, while in the QI/2016, it was VND108 billion, due to fluctuations in payables and liabilities.
Net cash flow from investing activities was VND2,860 billion due to deposits paid for aircraft purchases was VND2,834 billion while in the Q1/2016, it was only VND414 billion.

According to Kieu Chinh/ VNB – PL.XH

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