Viettel Global sets new profit record with sustained overseas growth

On October 29, the telecom giant announced its consolidated financial results for the third quarter of 2025, posting $440.5 million in revenue from sales and services – up 27 per cent on-year. After-tax profit reached $158 million, a near 570 per cent surge that marks Viettel Global's highest-ever quarterly profit and its eighth straight quarter of revenue growth above 20 per cent.

All of Viettel Global’s overseas markets posted strong revenue growth in the third quarter. Viettel Tanzania led with a 46 per cent increase, followed by Viettel Haiti at 32 per cent and Viettel Myanmar at 31 per cent. Markets where Viettel holds a dominant position, such as Burundi and Lumitel – with market shares exceeding 70 per cent – also saw a 40 per cent surge.

In more mature markets like Cambodia, Timor-Leste, and Laos, the company maintained steady growth of 16, 14, and 12 per cent, respectively. Viettel continues to consolidate its telecommunications leadership while expanding into digital services. E-wallet platforms also recorded strong gains, with U-Money in Laos up 64 per cent, Halopesa in Tanzania 45 per cent, e-Money in Cambodia 44 per cent, Mosan in Timor-Leste 38 per cent, e-Mola in Mozambique 36 per cent, and Lumicash 32 per cent.

In the first nine months of 2024, Viettel Global’s net revenue reached $1.21 billion, up 24 per cent on-year. After-tax profit climbed to $282 million, more than double the same period last year.

Viettel Global’s revenue and profit continued to rise alongside a significant expansion in assets. As of September 30, its total consolidated assets reached $2.8 billion – up $396 million, or 16 per cent, from the beginning of the year.

In October, Unitel, Viettel Global’s subsidiary in Laos, launched Unitel Logistics, expanding into technology-driven logistics services. The move strengthens Unitel’s position as a key player in Laos’s digital transformation and stands as a model for economic and defence cooperation between the two countries. It also marks Viettel’s strategic push to create new growth opportunities beyond traditional telecommunications.

The third quarter also marked a major milestone as Viettel became the first network operator in Timor-Leste to launch 5G services. The launch, held during the Telemor Expo in late August, was attended by Prime Minister Kay Rala Xanana Gusmão along with senior government officials.

With strong business performance and continued expansion of its investment portfolio, Viettel Global is reinforcing its position as Vietnam’s leading international telecommunications group, maintaining solid growth momentum and a robust financial foundation for long-term development.

Viettel Global (VGI) achieved strong growth in consolidated revenue and profit last year, according to its 2024 audited consolidated financial report released on March 28.

Viettel Global on May 5 revealed revenue growth of 22 per cent via its audited consolidated financial report for the first quarter of 2025.

Viettel Global (VGI) released its consolidated financial statement for the second quarter of 2025 on July 29, highlighting continued impressive growth in both revenue and profit.