DRC - Margin expansion continues on lower depreciation - Earnings Flash
  • 19 Apr 2021
  • Company Research
DRC released Q1 2021 results in which revenue increased 13.6% YoY to VND912bn (USD39mn) and NPAT-MI jumped 70.1% to VND64bn (USD2.78mn). We attribute the leap in revenue to the solid growth in both bias tire and radial tire revenue in Q1 2021 of 15.8% YoY