IDICO Corporation profit falls 29% in Q2

IDICO Corporation reported a sharp decline in second-quarter profit, with consolidated after-tax earnings falling to VND 415.964 billion from VND 583.871 billion in Q2 2024.

The company's separate financial statements showed after-tax profit dropped to VND 303.294 billion from VND 352.448 billion year-on-year.

The downturn was primarily attributed to fluctuations in revenue from industrial park infrastructure lease contracts, which met criteria for one-time revenue recognition of advance rental payments.