Viettel Global posts pre-tax profit of nearly $96.6 million in Q3

According to a financial report released by Viettel Global, the company generated consolidated revenue of $253.47 million in the third quarter, up 15 per cent over the same period last year.

Due to the decreasing cost of goods, the company’s gross profit rose by 48 per cent, from $97.7 million to $145.2 million. Meanwhile, the gross profit margin skyrocketed to 57 per cent compared to 45-48 per cent on-quarter.

Exchange rate fluctuations have also had a positive impact on Viettel Global's financial performance, with a positive net financial income (revenue minus expenses) of $40.2 million in the third quarter.

Excluding sales and administrative expenses, Viettel Global achieved a pre-tax profit of nearly $96.6 million.

In the first nine months, Viettel Global’s revenue increased by nearly 18 per cent to $707.9 million, while its gross profit nearly doubled to $356.8 million.

Viettel Global records the positive performance of financial activities (exchange rates) and activities of affiliated companies against last year’s period. Viettel Global's pre-tax profit in the first nine months of 2022 increased by nearly $176.9 million, up 368 per cent from $47.4 million to $223.2 million.

The parent company’s shareholders saw after-tax profits climb by more than $160.9 million to $148 million.

Thanks to growing business activities, Viettel Global has increased its capital scale significantly compared to the beginning of the year. As of September 30, its total assets and consolidated equity reached more than $2.2 billion and $1.28 billion respectively.

Regarding the markets where Viettel Global invested and consolidated revenue in the first nine months of 2022, Africa still maintains the best growth rate by contributing more than $305.7 million to the total revenue, up by 21 per cent against last year’s period. The revenue from the Southeast Asia market reached $313.7 million, an increase of 10 per cent over last year. Meanwhile, the revenue from Latin America reached $84.4 million, up 14.2 per cent.

Viettel Global (VGI) – part of leading military-run telco Viettel Group – just released its 2022 first-quarter consolidated business results bagged as one of the most glorious quarters in the company’s history to date.

Following the growth momentum of the previous quarter, Viettel Global continued to post strong revenue and profit in the second quarter of the year.

The strong growth of the African market has made a significant contribution to the overall results of Viettel Global.