Petrovietnam Power Services Q3 profit falls 40%

Petrovietnam Power Services Joint Stock Company (PVPS) reported a 40.52% decrease in after-tax profit for the third quarter of 2025 compared to the same period in 2024.

The company's after-tax profit for Q3 2025 was impacted by a 50.08% decrease in financial income compared to Q3 2024. This decline was primarily attributed to revenue generated from expert rental services and tools/equipment provided by GE contractors for handling an abnormal Rotor Heat Shield. This work, performed at the Nhon Trach 1 Power Plant, amounted to VND 15.94 billion, representing 16.82% of the total quarterly revenue.

The company clarified that this work was executed on a reimbursement basis and did not yield profit, contributing to the lower post-tax profit compared to the previous quarter. The total revenue from sales and services rendered for Q3 2025 was VND 94,846,550,337.