IPA Investment Group Corporation (Code: IPA) has just announced the purchase of 150 billion VND of bonds with code IPAH2124003. This is a bond lot issued on December 20, 2021, with a term of 3 years and an interest rate of 9.5%/year, with a total face value of about 1,000 billion VND.
The repurchase of VND150 billion of bonds 3 months before maturity helped IPA Investment Group reduce its total bond debt to VND310 billion.
IPA Investment (Code: IPA) buys back 150 billion VND of bonds before maturity (Photo TL)
Regarding the use of capital, as of the end of the second quarter of 2024, IPA Investment Group recorded VND 4,137 billion in short-term and long-term debt, down 5.8% compared to the beginning of the year. The amount of debt is almost equal to the owner's equity, showing a significant risk in business operations.
In the second quarter of 2024, IPA Investment recorded net revenue of VND 163.5 billion, more than 3 times higher than the previous year. However, profit after tax reached VND 87.9 billion, down 42.6% over the same period.
Notably, financial expenses increased by 4 times during the period, accounting for 134.9 billion VND, showing that debts are putting great pressure on the company's profits. Sales expenses and business management expenses also increased by 30.7% and accounted for 18 billion VND.
Accumulated revenue in the first half of 2024, IPA Investment recorded net revenue of VND 249 billion, double that of the same period. Profit after tax reached VND 192.7 billion. Compared to the target set for 2024, pre-tax profit of VND 209.1 billion, IPA Investment has currently completed 49.2% of the yearly plan.
Source: https://www.congluan.vn/chi-phi-tai-chinh-doi-len-gap-4-lan-dau-tu-ipa-ipa-mua-lai-150-ty-dong-trai-phieu-post316364.html
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