Viettel Global posts US$50.7 million before-tax profit in H1

Viettel Global, a foreign investment unit of telecoms giant Viettel, posted a before-tax profit of VND1.17 trillion (US$50.7 million in the first half of this year, equivalent to the same period last year.

viettel global posts us$50.7 million before-tax profit in h1 hinh 0
Mytel – a telecom brand of Viettel Group in Myanmar (Photo: Viettel Group)

Viettel’s Global revenue rose 9.7% to VND8.6 trillion in the period thanks to growth in its three markets of Southern Africa, Latin America and Southeast Asia. Its gross profit increased by nearly 19% to VND3.3 trillion.

A total of 51% of its revenue came from Southeast Asia, where its partner companies Viettel Myanmar, Star Telecom (Laos) and Metcom (Cambodia) saw double-digit growth in revenue.

Net revenue from business activities increased by 6% to VND4.3 trillion the second quarter alone due to major currency fluctuations in its markets caused by the pandemic.

As of June 30, Viettel Global's total assets and owner's equities were VND59.3 trillion and VND29.4 trillion, respectively.

Established in 2006, Viettel Global currently operates in Cambodia, Laos, Timor Leste, Mozambique, Burundi, Haiti, Peru, Cameroon, Tanzania and Myanmar.