Securities company where profits are hundreds of billions, where losses are heavy

Many securities companies have announced their business results for the third quarter of 2024 with different profit levels. Among the group that still saw growth in revenue or profit, there are many large enterprises. For example, Vietcap Securities Company (VCI) announced that its revenue for the third quarter of 2024 was VND974 billion, up 46% and its after-tax profit was VND215 billion, up 20% over the same period last year. In the first 9 months of the year, Vietcap's after-tax profit reached VND692 billion, up 88% over the same period last year.

Securities company reported hundreds of billions of dong in profits while others reported losses in the third quarter of 2024

PHOTO: DAO NGOC THACH

Another company, VPS Securities Company, announced that its after-tax profit reached VND656 billion in the third quarter, 2.5 times higher than the same period last year. In total, after 9 months, VPS recorded a profit after tax of nearly VND1,684 billion, 3.6 times higher than the same period in 2023. SSI Securities Company reported that in the third quarter of 2024, it achieved a profit after tax of VND750 billion, an increase of 11% over the same period last year. In the first 9 months of this year, SSI's after-tax profit reached VND2,313 billion, an increase of 37% over the same period. Or Mirae Asset Vietnam Securities Joint Stock Company announced a profit after tax in the third quarter of 2024 of nearly VND167 billion, an increase of 2.5% over the same period last year, and in total, after 9 months, the profit after tax increased by 12% to VND479 billion...

However, on the contrary, some small-scale securities companies reported dismal business results with losses. For example, UP Securities Company - the new name of Royal International Securities Company - recorded operating revenue in the third quarter of 2024 of just over VND 4.7 billion, down 25% compared to the same period last year, mainly due to a decrease in brokerage and financial consulting revenue. As a result, the company suffered a loss of VND 4.6 billion. In total, after 9 months of operation, UP Securities Company suffered a loss of nearly VND 500 million.

Dai Viet Securities Joint Stock Company also reported a loss in the third quarter of more than VND 3 billion. In total, after the first 9 months of this year, the company had a profit after tax of VND 17.3 billion but still lost from previous years until the end of September, up to VND 10 billion. Another unit with a heavier loss is Everest Securities Company, which in the third quarter of 2024 lost nearly VND 28 billion while in the same period last year it had a profit after tax of VND 58 billion. According to the company's explanation, the decrease in stock prices in the investment portfolio increased revaluation costs. At the same time, revenue from self-trading activities decreased, leading to a decline in business efficiency. Thus, in the first 9 months of this year, Everest's accumulated profit was only VND 4 billion, down 87% compared to the same period last year...

Source: https://thanhnien.vn/cong-ty-chung-khoan-noi-loi-nhuan-hang-tram-ti-noi-lo-nang-185241020080513155.htm