Ha Tien 1 Cement Joint Stock Company (HT1), listed in the Hochiminh Stock Exchange, said it incurred a loss of VND56.06bn (US$2.67m) in the first quarter of this year compared to a net profit of VND23.76bn in first quarter of last year.
Revenues jumped 87.2% on year to VND1.205 trillion during Jan-Mar, HT1 said in its quarterly financial report.
Its financial costs reached VND240.43 billion during the period, which was attributed to the loss.
In 2011, the cement producer targets a pretax profit of VND154 billion on revenues of VND6.847 trillion.
Last year, it netted a profit of VND268 billion on revenues of VND6.653 trillion, versus VND116 billion and VND4.74 trillion in 2009, respectively.