Tavantolgoi JSC: Net profit decreased by 52 percent in 2021

The local-owned Tavantolgoi JSC has announced its financial results for 2021. However, export disruption due to the Mongolian-Chinese border closure has had a sharp impact on the company’s sales this year as well. 

For instance, sales revenue reached MNT 179.3 billion in the reporting period, decreased by 29.5 percent from the 2020 performance. Net profit was MNT 15.1 billion or MNT 286.06 per share, down 52 percent from 2020. 

However, the company’s stock price performance shows that investors believe that the company’s situation is temporary. Tavantolgoi JSC’s share price did not fluctuate significantly in 2021 and closed at a 7 percent increase (MNT 7,555) at the end of the year.

Source: marketinfo.mn