Telecom giant VNPT reports $93 mln profit in 6 months

Vietnam's state-owned telecom group VNPT reported consolidated revenue of VND26.32 trillion ($1.11 billion) in the first half of this year, and pre-tax profit of VND2.2 trillion ($92.88 million), reaching 47.1% and 49.7% of its year targets, respectively.

Of which, the parent company's revenue was VND18.6 trillion ($786.68 million), while pre-tax profit was VND1.39 trillion ($58.62 million).

At a meeting on Wednesday to discuss the company's restructuring plans towards 2025, VNPT leaders said that the corporation's business results since 2016 have exceeded the targets assigned by the government.

Specifically, from 2016-2020, VNPT's profit stood at VND29.91 trillion ($1.26 billion), equal to 118.5% of its plan, while revenue hit VND274.29 trillion ($11.6 billion), equal to 101.9% of its target.

VNPT recorded 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%.