State-owned telecom group VNPT has reported an after-tax profit of VND5.41 trillion ($229.5 million) in 2022, up 6.8% year-on-year.
The telco's net revenue last year was VND51.89 trillion ($2.2 billion), up 1.2% year-on-year, of which service provision accounted for VND38.15 trillion ($1.62 billion), up nearly 7%; and prepaid telecom service income hit VND12.53 trillion ($531.3 million), down 6.5%.
VNPT's total assets were valued at VND102.11 trillion ($4.33 billion) as of December 31, 2022, up 2% compared to the beginning of the year. Of this, outstanding cash and bank deposits amounted to VND54.27 trillion ($2.3 billion) or 53%. The deposits earned a profit of VND2.65 trillion ($112.2 million).
The corporation's equity at the end of last year was VND71.57 trillion ($3.04 billion), including an owner's equity of VND68.75 trillion ($2.9 billion) and undistributed after-tax profit of VND476 billion ($20.2 million). Its financial debt was 2.6% of equity at VND1.93 trillion ($81.8 million).
VNPT was established on the basis of reorganization of the Vietnam Post and Telecommunications Corporation under a prime ministerial decision issued in 2006.
It became a one-member limited liability company owned by the state in 2010. The corporation's main business activities include trading telecommunications products and services, information technology, communication products, advertising and organization of relevant events.