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Bamboo Capital (BCG): In the second quarter of 2021, profit after tax is 16 times higher than the same period

After deducting expenses, BCG's profit was nearly 316 billion dong, 16 times higher than the same period last year.

Bamboo Capital (BCG) has just announced its consolidated financial statements for the second quarter of 2021 with revenue of VND 814 billion, up 56% over the same period. Deducting the cost of capital, the company's gross profit is more than 302.5 billion VND, 4 times higher than the figure earned in the second quarter of 2020.

Solar projects have started to generate stable cash flow for BCG

BCG said that the sudden consolidated profit mainly came from subsidiaries. In which, the highlight is the completion of the handover and transfer of a number of projects; revenue from construction and installation activities; At the same time, cash flows from renewable energy projects that have been energized by the end of 2020.

In terms of financial activities, BCG saw a sudden increase in revenue from 197 billion VND to more than 713.5 billion VND. In which, BCG recorded a strong increase in profit from investing in stocks and bonds with more than 320 billion dong, interest receivable under investment cooperation contracts also jumped to 386 billion dong (only 75 billion dong in the same period).

After deducting expenses, BCG still made a profit of nearly 316 billion dong, 16 times higher than the same period last year.

Accumulated in the first 6 months of the year, BCG achieved 1,449 billion in revenue, an increase of 60% and more than 478 billion in profit after tax, an increase of 18 times higher than the same period in 2020. Compared with the plan of 5,375 billion VND in revenue and more than 806 billion VND in revenue. Profit after tax, in the first half of the year, BCG achieved 27% of revenue target and more than 59% of profit target, respectively.