In the long run, F.I.T Group (FIT) reported a profit after tax in the third quarter of more than VND 30 billion, up 50% compared to the same period last year.
FIT’s 3rd quarter net revenue reached nearly 278 billion dong, down 11% over the same period. Meanwhile, COGS dropped sharply by 17%, helping gross profit reach nearly 72 billion dong, up 14%. Gross profit margin improved by 5 percentage points over the same period, reaching 25.73%.
Selling and administrative expenses of FIT both increased strongly by 32% and 52% respectively, reaching a total value of 81 billion dong.
In due time, FIT reported a profit after tax in the third quarter of more than VND 30 billion, an increase of 50% compared to the same period in 2020.
FIT has solid profit growth in Q3
In 9 months, net revenue and profit after tax reached VND 894 billion and VND 194 billion seperately, up nearly 5% and 3.2 times higher than the previous year.
Financial activities recorded a revenue increase of 3.7 times to more than VND 369 billion, mainly thanks to bond investment interest of more than VND 129 billion and other financial revenue of more than VND 90 billion.
However, financial expenses also increased sharply by nearly 4.9 times over the same period due to the loss of investments of more than 100 billion dong.
In 2021, FIT plans a net revenue of more than VND 1,331 billion and consolidated profit after tax of more than VND 176 billion. Thus, after 9 months, the group has fulfilled 67% of the revenue plan and exceeded nearly 10% of the profit plan.
Total assets of FIT at the end of the third quarter reached more than VND 5,450 billion, a slight increase of 3% compared to the beginning of the year. In which, short-term financial investments decreased by more than 600 billion dong to 1,897 billion dong, long-term financial investment decreased by more than 440 billion dong to 743 billion dong.
Liabilities reached more than 1,055 billion dong, down 14.7%, of which total long-term and short-term loans increased by nearly 25%, reaching more than 568 billion dong.
In a recent development, FIT has completed the issuance of 8 million ESOP shares to 70 employees. The total number of shares of the group after the issuance increased to more than 262 million units, the charter capital increased to more than 2,627 billion.
Link: https://baomoi.com/fit-ghi-nhan-lai-quy-3-tang-truong-50-len-30-ty-dong/c/40680171.epi
