PSNews - Viettel Global Investment JSC (Upcom: VGI), a subsidiary of the Viettel Military Industry and Telecoms Group, reported its profit of VND 166 billion in Q1 of 2019, 12 times larger than the same period last year.
According to the report, Viettel Global’s net revenue in Q1 reached nearly VND 3,800 billion, down slightly by 4% compared to the same period last year.
|Annual subscriber growth rate of Viettel Global's Lumitel in Burundi is on the rise, accounting for about 70-75% of the market.
However, a significant decrease in prices of inputs led to a 46% increase in its gross profit, mounting to VND 1,322 billion from VND 904 billion the same time last year. Its gross profit margin remained high, at about 35%. This has been the highest profit margin of Viettel Global in recent years.
Southeast Asian and African markets, which respectively earned VND 1,676 billion and VND 1,253 billion, were two main contributors to its gross revenue growth last quarter. The Latin American market contributed VND 546 billion to the company’s revenue.
Meanwhile, the company said it earned VND 166 billion of pre-tax profit in 2019’s Q1, 12 times larger than the same period last year. This has been the highest profit level of Viettel Global since Q2/2017. Thus, the after-tax profit of the parent company’s shareholders increased to VND 72 billion from VND -147 billion of the same period last year.
By the end of the first quarter, Viettel Global had a chartered capital of VND 24,971 billion and total asset of VND 59,443 billion, slightly higher than the year’s beginning.
|By the end of 2019's first quarter, Viettel Global had a chartered capital of VND 24,971 billion and total asset of VND 59,443 billion, slightly higher than the year’s beginning.
In the recent two quarters, Viettel Global has continuously received good news from its business results in many markets around the globe
In Cambodia, when Viettel Global's first foreign market, the company celebrated 10 years of its mobile business, it marked 2-digit growth of mobile consumption for the first time in recent years.
Viettel Global's Metfone in Cambodia regained its growth momentum and reached nearly 6 million of its mobile subscribers, and became the first operator agile in digital conversion.
In Myanmar, the company’s largest foreign market, Viettel Global's Mytel earned more than 5 million subscribers after just over 6 months of operation. Mytel has also become the third largest mobile operator in Myanmar in terms of market share.
In Burundi, with its brand named Lumitel, the company just needed several months to take the lead in the market. Meanwhile, its annual subscriber growth rate is on the rise, accounting for about 70-75% of the market. Lumitel remains as the largest network operator in the African country with its good 2G, 3G and 4G infrastructure and best e-wallet service known as Lumicash in the market.
Viettel Global is running business in 10 international markets at present.By Thien Minh