VietnamCredit
VietnamCredit About Us Cafe€redit Contact Us
Login Register
0
USD
Go to cart
Checkout
Vietnam’s telecommunication companies: Viettel recorded an overwhelming profit

Vietnam’s telecommunication companies: Viettel recorded an overwhelming profit

Tuesday 01, 11 2022
In the first 9 months of 2022, Viettel Group’s profit was 5 times the combined profit of VNPT and Mobifone, reaching 40,500 billion VND.

Vietnam’s telecom big three’s profit

Viettel

Viettel Group retains its top spot in terms of mobile subscription market share. According to the Ministry of Information and Communications data, Viettel has claimed 54.5% of the mobile subscription market after 9 months in 2022. The company actively shifted 2G and 3G subscribers to 4G, thus bringing the ratio of 4G subscribers to the total number of subscribers to approximately 72%.

Viettel is also the number one holder of market share in 5 international markets. Specifically, the company remains on top with its brands Unitel in Laos, Telemor in Timor Leste, Lumitel in the Republic of Burundi, Metfone in Cambodia, and Mytel in Myanmar.

Viettel's logistics and e-commerce fields in the past 9 months also experienced high growth compared to the same period in 2021 (18.5%).

Vietnamcredit Viettel

By the end of the third quarter of 2022, Viettel’s total consolidated revenue reached 121,000 billion VND, completing 102.2% of the 9-month plan, achieving a growth of 8.8%. The company’s profit reached 40,500 billion VND, completing 113% of the 9-month plan, growing by 29.5%. Viettel contributed 30,500 billion VND to the state budget, completing 105% of the 9-month plan, up 37.2%.

VNPT

As for the Vietnam Posts and Telecommunications Group (VNPT), the group's consolidated revenue was estimated at 41,396 billion VND. The parent company's revenue alone reached 31,809 billion VND, equaling 102.0% over the same period, equivalent to 76.7% of the plan.

Consolidated profit before tax of VNPT is estimated at 4,631 billion VND, of which the parent company's pre-tax profit is 3,487 billion VND, equaling 101.7% over the same period, equivalent to 73% of the plan.

Mobifone

With Mobifone Corporation, the Ministry of Information and Communications revealed that to become a leading technology company, Mobifone has focused on promoting the development and expansion of solution services. The company’s revenue in the field of information technology solutions in the 9 months of 2022 has grown strongly compared to the same period in 2021, with an impressive growth of 67%.

Mobifone’s parent company's revenue in 9 months of 2022 is estimated at 22,146 billion VND, completing 70.6% of the year plan. The parent company's profit in 9 months of 2022 is estimated at 2,977 billion VND, completing 69.1% of the year plan.

Vietnamcredit Mobifone Corporation

Mobifone also contributed to the state budget of the parent company in the first nine months of 2022, estimated at 2,728 billion VND, equaling 71.5% of the year plan. The average profit after tax on equity ratio in the first nine months of 2022 is estimated at 10.05%, equaling 67.3% of the year plan.

Business results of the big three telecommunication companies in Vietnam in the first 9 months of 2022 show that Viettel is still far behind VNPT and MobiFone in revenue and profit. Viettel's revenue by the end of the third quarter of 2022 was 1.9 times higher than that of VNPT and MobiFone, and the company's profit was 5.3 times higher than that of VNPT and MobiFone combined.

How do other companies fare?

Aside from the above big carriers, the Ministry of Information and Communications report also showed the profit of other smaller names.

The revenue of Vietnamobile Telecommunications Joint Stock Company in the first 9 months of 2022 was 1,447 billion VND and contributed 43 billion VND to the state budget.

Indochina Telecommunication Joint Stock Company (I-Telecom) maintained more than 1 million mobile subscribers generating regular charges with revenue of 442 billion VND. Profit before tax is about 28 billion VND.

Vietnamcredit Indochina Telecommunication Joint Stock Company

Mobicast Joint Stock Company developed 49,923 subscribers with total revenue of 15 billion VND, up 1,500% over the same period last year. This business is in the process of building the system, so it has not yet generated any profit. By the end of the third quarter, Mobicast paid more than 5.4 billion VND to the budget.

Both I-Telecom and Mobicast are virtual mobile networks. I-Telecom officially launched iTel service with number 087 on the infrastructure of the VinaPhone mobile network in April 2019. The Reddi virtual network with Mobicast's prefix 055 also uses VinaPhone's infrastructure launched in 2020.

 

Compiled by VietnamCredit

 

You may also like

Mobile Money service to be piloted in Vietnam
Wednesday 20, 05 2020

Mobile Money service to be piloted in Vietnam

After many delays, the use of telecommunications accounts to pay for small-value...
Vietnam’s 10 most valuable brands in 2020
Saturday 12, 09 2020

Vietnam’s 10 most valuable brands in 2020

Forbes Vietnam has just released the list of the 10 most valuable brands...
0
0
+84 981861066