Viettel Global reports seven-fold profit increase in H1

By Trang Nguyen
Tue, August 2, 2022 | 2:31 pm GMT+7

Viettel Global (VGI), one of Vietnam's biggest overseas investors, earned an after-tax profit of VND2,156 billion ($92.32 million) in the first half of 2022, 7.4 times year-on-year.

Its net revenue reached VND11,287 billion ($483.3 million) during the period, up 16%, according to the firm's consolidated financial report.

Halotel, or Viettel Tanzania, is a telecom company invested by Viettel in Tanzania. Photo courtesy of the company.

Halotel, or Viettel Tanzania, is a telecom company invested by Viettel in Tanzania. Photo courtesy of the company.

In the second quarter of the year, the company's net revenue reached VND5,850 billion ($250.5 million), a record quarterly high. Although provision for debts in Q2 increased sharply compared to the same period last year, its after-tax profit in this quarter still hit VND1,113 billion ($47.66 million), up 39% year-on-year.

Regarding the markets where Viettel Global invests and consolidates revenue, Southeast Asia and Africa still make the main contributions. In Q2, its revenue in Southeast Asia hit VND2,760 billion ($118.2 million), while the figure for Africa and Latin America was VND2,483 billion and VND720 billion, respectively.

By the end of Q2, Viettel Global's recorded total assets of VND52,622 billion ($2.25 billion) and equity of VND30,789 billion.

In July, VGI shares had a strong upward momentum from the price of VND24,000 to VND33,000 ($1.41), equivalent to market capitalization exceeding VND100,000 billion ($4.28 billion).

On the unlisted public company market UPCoM, the VGI shares price hit VND34,400 ($1.47) a piece at the closing morning session on August 2.

Comments (0)
  • Read More
From transparent technology to humanitarian values: The story of Vietnam’s first charity platform

From transparent technology to humanitarian values: The story of Vietnam’s first charity platform

Launched in 2021 under the direction of the Ministry of Science and Technology, in coordination with the Vietnam Red Cross Society and other socio-political organizations, a platform named “thiennguyen” (charity) developed by MBBank has paved a new path for community philanthropy in the digital era.

Companies - Wed, September 10, 2025 | 8:41 am GMT+7

Increased foreign capital flows, long-term opportunities for Vietnam's retail-consumer goods industry

Increased foreign capital flows, long-term opportunities for Vietnam's retail-consumer goods industry

Vietnam’s conglomerate Masan Group (HoSE: MSN), with a market capitalization of nearly $4.8 billion, high liquidity, ample foreign ownership room, and a solid business foundation, is expected to be a top pick for foreign investors.

Companies - Wed, September 10, 2025 | 8:00 am GMT+7

Vietnam’s pepper exports surpass $1 bln in 8 months

Vietnam’s pepper exports surpass $1 bln in 8 months

Vietnam’s pepper industry recorded export revenue of more than $1 billion in the first eight months of 2025, the highest level for the period in seven years, according to the Vietnam Pepper and Spice Association (VPSA).

Companies - Tue, September 9, 2025 | 11:13 pm GMT+7

Indonesia, EU to sign CEPA after decade of negotiations

Indonesia, EU to sign CEPA after decade of negotiations

The Indonesia-European Union Comprehensive Economic Partnership Agreement (IEU-CEPA) is set to be signed on September 23 after a decade of negotiations, according to Indonesian Coordinating Minister for Economic Affairs Airlangga Hartarto.

Southeast Asia - Tue, September 9, 2025 | 10:07 pm GMT+7

Vietnam lifts asset freeze on ex-FLC chairman Trinh Van Quyet

Vietnam lifts asset freeze on ex-FLC chairman Trinh Van Quyet

Authorities in Vietnam’s central province of Khanh Hoa are moving to lift restrictions on asset transactions and transfers linked to Trinh Van Quyet, former chairman of property developer FLC Group, the provincial Department of Justice said on Tuesday.

Economy - Tue, September 9, 2025 | 9:26 pm GMT+7

Abbott-backed medical firm Domesco to pay 25% cash dividend

Abbott-backed medical firm Domesco to pay 25% cash dividend

Domesco Medical Import Export JSC (HoSE: DMC) will distribute a 25% cash dividend for 2024, equivalent to VND2,500 (9.5 U.S. cents) per share.

Companies - Tue, September 9, 2025 | 8:39 pm GMT+7

Vietnam’s finance ministry proposes raising personal deduction to $588 per month

Vietnam’s finance ministry proposes raising personal deduction to $588 per month

Vietnam’s Ministry of Finance has proposed raising the personal income tax deduction to VND15.5 million ($588) per month and the dependent deduction to VND6.2 million ($235).

Economy - Tue, September 9, 2025 | 4:09 pm GMT+7

PM requests prompt finalization of feasibility study for Lao Cai-Hanoi-Hai Phong railway project

PM requests prompt finalization of feasibility study for Lao Cai-Hanoi-Hai Phong railway project

Prime Minister Pham Minh Chinh on Sunday evening chaired a high-level meeting with key ministries and agencies to accelerate the implementation of the Lao Cai-Hanoi-Hai Phong railway project, during which he stressed the need for prompt completion of the project’s feasibility study.

Economy - Tue, September 9, 2025 | 3:06 pm GMT+7

WB, ADB to provide over $12 bln to green projects in ASEAN

WB, ADB to provide over $12 bln to green projects in ASEAN

The World Bank has allocated $2.5 billion, while the Asian Development Bank has set aside $10 billion to support green projects in ASEAN, said Malaysian Deputy Prime Minister Datuk Seri Fadillah Yusof.

Southeast Asia - Tue, September 9, 2025 | 3:01 pm GMT+7

Central Vietnam province seeks investors for $42 mln wind power project

Central Vietnam province seeks investors for $42 mln wind power project

Vietnam’s central province of Quang Tri is seeking investors for the Hung Bac wind power project, with total investment estimated at VND1.1 trillion ($41.69 million), according to the provincial People’s Committee.

Energy - Tue, September 9, 2025 | 2:56 pm GMT+7

Vietnam's leading conglomerate Vingroup sues 68 entities, individuals for false information

Vietnam's leading conglomerate Vingroup sues 68 entities, individuals for false information

Vingroup JSC (HoSE: VIC) on Monday reported to authorities, notified foreign embassies, and filed civil lawsuits against 68 organizations and individuals at home and abroad for spreading false information about the corporation online.

Companies - Tue, September 9, 2025 | 10:45 am GMT+7

Warburg Pincus unit, Masterise eye $739 mln expressway to Vietnam’s mega airport

Warburg Pincus unit, Masterise eye $739 mln expressway to Vietnam’s mega airport

A subsidiary of U.S. private equity firm Warburg Pincus and Vietnamese developer Masterise Group have separately proposed building an over VND19.52 trillion ($739 million) expressway connecting a major tourism area to the under-construction Long Thanh International Airport in the southern region.

Infrastructure - Tue, September 9, 2025 | 8:00 am GMT+7

Hoa Binh Construction wins $5 bln contract for mega urban project in southern Vietnam

Hoa Binh Construction wins $5 bln contract for mega urban project in southern Vietnam

Vietnam's leading contractor Hoa Binh Construction Group has secured a contract to build the first phase of a mega urban area project in Vietnam’s southern metropolis of Ho Chi Minh City.

Real Estate - Mon, September 8, 2025 | 9:22 pm GMT+7

Vietnam's monetary policy remains accommodative: WB

Vietnam's monetary policy remains accommodative: WB

Vietnam's monetary policy has remained accommodative, as State Bank of Vietnam (SBV) interventions contained foreign exchange pressures and increased credit growth, the World Bank Group said in its country economic update.

Economy - Mon, September 8, 2025 | 7:46 pm GMT+7

Property, technology, energy among sectors recording highest M&A activity in Vietnam

Property, technology, energy among sectors recording highest M&A activity in Vietnam

Vietnam’s M&A landscape in July recorded 34 completed transactions with the total disclosed and estimated deal value of $786 million, according to Grant Thornton Vietnam.

Economy - Mon, September 8, 2025 | 3:49 pm GMT+7

Vietnam's Van Thinh Phat-tied firm incurs $14 mln loss in H1 as legal woes persist

Vietnam's Van Thinh Phat-tied firm incurs $14 mln loss in H1 as legal woes persist

Bong Sen Corp, the hotel and property arm of troubled Van Thinh Phat Group, posted a net loss of nearly VND356 billion ($14 million) in the first half of 2025, its filing to the Hanoi Stock Exchange (HNX) showed.

Companies - Mon, September 8, 2025 | 3:24 pm GMT+7