Dragon Capital Vietnam posts best quarterly profit in 3 years

Dragon Capital Vietnam (UPCoM: DCV) reported its strongest quarterly earnings in three years, driven by robust growth in investment advisory and asset management activities.

In its Q1 financial report, the company recorded operating revenue of nearly VND287 billion ($10.9 million) in January-March, up 18.8% year-on-year. The bulk of income came from securities investment advisory and fund management services. With no cost of goods sold, the figure translated directly into gross profit.

Financial income also surged 7.5 times to VND30.6 billion ($1.16 million), mainly driven by gains from financial investments. The company currently holds nearly VND483 billion ($18.35 million) in short-term financial investments, largely in fund certificates, alongside interest income from deposits and other financial activities.

As a result, net profit reached VND94.6 billion ($3.59 million), up 2.6 times year-on-year and marking the highest level in three years. Cumulative after-tax profit stood at more than VND535 billion ($20.32 million).

Total assets stood at VND1.05 trillion ($39.74 million) as of end-March, up by 1.7% from the start of the year. Both domestic and foreign investors had entrusted the firm with portfolios valued at about VND1.62 trillion ($61.43 million), alongside more than VND270 billion ($10.26 million) in entrusted cash deposits.

Founded in 2003, Dragon Capital Vietnam is among the earliest domestic fund management companies, focusing on portfolio management and securities investment funds. The firm has been a pioneer in launching a range of products, including closed-end funds, open-ended funds and exchange-traded funds (ETFs), while also participating in private investments and state-owned enterprise equitization.

By the end of last year, the company managed and advised assets worth roughly VND140 trillion ($5.32 billion), placing it among the leading asset managers in Vietnam in terms of both number of funds and total net asset value (NAV).

Shares of Dragon Capital Vietnam have been trading on the unlisted public companies market UPCoM since January 19. DCV shares were traded at VND164,800 ($6.26) each on Tuesday afternoon.