Kasati's half-year profit plunges amid project delays, currency hit

Kasati Joint Stock Company reported a profit after tax of VND 275,636,757 for the first half of 2025, a significant decrease of VND 4,744,136,441 compared to VND 5,019,773,198 in the same period of 2024. This decline is primarily attributed to a reduction in revenue due to unaccepted projects and a sharp increase in financial expenses, heavily influenced by the rising US dollar exchange rate.

Despite the year-over-year decrease, the accumulated profit after tax for the first six months of 2025, according to the audited report, was VND 275,636,757, an increase of VND 49,392,835 from the VND 226,636,757 reported in the Q2/2025 financial statements. This upward revision was due to a recalculation error in corporate income tax on dividends received from an associate company.

The company's total assets as of June 30, 2025, stood at VND 548,654,672,052, while its equity was VND 70,743,416,516. Total liabilities were VND 477,911,255,536, with short-term trade payables amounting to VND 393,194,100,937.