PetroVietnam Camau Fertiliser JSC's after-tax profit sees 10-fold rise in Q1

Packages of urea produced by the PVCFC (Photo: VNA)

Hanoi (VNA) - The after-tax profit of the PetroVietnam Camau Fertiliser Joint Stock Company (PVCFC) in the first quarter of 2022 hit 1.51 trillion VND (65.73 million USD), representing a 10-fold rise from the same period last year, according to the company’s business report. 

The company produced 236,650 tonnes of urea and 26,400 tonnes of NPK fertiliser in the reviewed period, respectively.

The surge was attributable to the rising global fertiliser prices, together with PVCFC's efforts in maintaining stable operations, reducing material consumption and seeking high-value export opportunities. 

In Q2, the company aims for 710.67 billion VND in after-tax profit and is set to produce 232,160 tonnes of urea and 25,560 tonnes of NPK fertiliser.

It has set a target to earn total revenues of more than 9.06 trillion VND and pre-tax profit of 542 billion VND in 2022.

To realise the targets, PVCFC will keep a close watch on prices and market developments, and bolster forecasts and analysis so as to devise suitable measures. It will make efforts to complete ongoing projects, expand operations and diversify products serving long-time development./.

VNA