Sunday , May 19 2024

Vietnam Electricity posts $207.6-mln profit

State power utility Vietnam Electricity (EVN) made a profit of VND4.74 trillion ($207.6 million) from all activities in 2020.

But, its core business of electricity production and trading reported VND1.3 trillion in losses due to price reduction and discounts. In 2020, EVN sold each kilowatt-hour for an average VND1,820.20, down 1.68 percent from 2019.

Reduction in sales price, together with changes in electricity load and consumption due to Covid-19, and VND12.3-trillion bill discounts for pandemic-hit customers, are cited as reasons for the loss.

The company reported more than VND6 trillion in revenue from its financial activities, capital transfers, and dividends profits in 2020.

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