Quang Nam Mineral Industry’s Q3 2025 profit slashed by tax violations

Quang Nam Mineral Industry Corporation announced a steep 72.69% drop in its Q3 2025 after-tax profit, falling to VND 328,719,171 from VND 1,203,672,369 in Q3 2024. This significant decline is attributed to administrative sanctions for tax violations, totaling VND 1,440,210,128. This includes VND 723,390,655 in corporate income tax arrears and VND 716,819,473 for Value Added Tax, Environmental Protection Fees, late payment interest, and other administrative fines, as per a decision from the Da Nang City Tax Department.

Despite the profit reduction, the company’s separate financial statements as of September 30, 2025, indicate an increase in total assets to VND 193,614,636,341, up from VND 174,424,776,729 at the end of 2024. Liabilities also rose to VND 91,317,916,290 from VND 80,700,909,467 over the same period. The company maintains its primary operations in mineral mining, processing, and transportation services.