Ninh Binh Thermal Power Joint-stock Company explained the negative profits in QIII/ 2009 as follows:

- Due to the hot weather in July and August, the vacuum of condenser is low causing the average power output in July and August is lower than the average of the first six months. In September, the company has stopped the production in a Furnace No 3 and No 4 for major repairs.

- In the early of 2009, the government has advocated the corporate income tax reduction; therefore company is temporarily deducting the amount of VND 1,505,438,073 for the corporate income tax of the first six months. If the company extracted full of the prescribed tax rate of 25%, the tax payable is VND 10,361,726,153 VND, and the profit after tax is VND 31,085,178,460.

- The corporate income tax of Quarter III/2009 is VND 2,689,664,328, then the profit after tax of the Quarter is VND 8,068,992,986. However, the company has extracted an amount of VND 8,856,288,081 to compensate for the corporate income tax of the first 6 months. Therefore, the company profit after-tax of Quarter III/2009 was VND(787,295,095)