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Mobifone's profit increases

Released at: 09:16, 08/04/2015

Mobifone's profit increases

Declining numbers in the months following January, however, bring some cause for concern.

by Minh Tien

Mobifone's first quarter revenue reached VND8.556 trillion (nearly $400 million), a 4.6 percent increase compared to the same period of last year and equivalent to 28.5 percent of 2015's goal.

The statistics were disclosed by Mobifone CEO Mr. Le Nam Tra during a state management briefing conference conducted by the Ministry of Information and Communication last weekend.

Mobifone achieved a remarkable revenue of VND2.358 trillion ($109 million) and a profit of VND1.281 trillion ($59.3 million) in January; however, its aggregate profit over February and March was just around VND400 billion (less than $20 million), less than a third of January’s profit.

Viettel and the Vietnam Posts and Telecommunications Group have not published their Q1 reports but executives of Mobifone’s two main competitors have confidently confirmed remarkable increases of 26 percent and 15.7 percent respectively when comparied to last year’s results.  

Mr. Tra is expecting a revenue of VND9.460 trillion ($438 million), and a profit of VND1.786 trillion ($82.7 million) for the second quarter by seducing three million new subscribers. Such targets would only help Mobifone accomplish 48.4 percent of its 2015 objectives, which would see it have a lot more work to do in the second half of the year.

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