Viettel Global ranks third in market capitalisation

With the market capitalisation exceeding US$11bil, Viettel Global has outperformed many well-established companies. — Vietnam News

HANOI: Amid the surging wave of telecommunications and technology stocks on the Vietnamese stock market, Viettel Global Investment JSC (VGI) has emerged a rising star, capturing significant attention as its stock price climbs to record levels.

Within three months, the company’s market value has more than tripled, reaching an impressive milestone of 92,600 dong per share on Monday.

As a result, its market capitalisation has soared by approximately 202.3 trillion dong since the beginning of 2024, to more than 281.8 trillion dong.

With the market capitalisation exceeding US$11bil, Viettel Global has outperformed many well-established companies, including Vingroup, Vinhomes, Hoa Phat, Vinamilk, FPT Corp, PV Gas and several banks, to secure a third position among the largest companies on the Vietnamese stock market.

Its value now trails only Vietcombank and Bank for Construction of Vietnam.

The surge in VGI’s stock has been fuelled by positive business performance and ambitious plans to address Viettel Global’s outstanding issues.

According to the 2024 AGM, Viettel Global aimed to consolidate revenue of over 31.7 trillion dong, the same as 2023, and a consolidated pre-tax profit of nearly 5.5 trillion dong, up 41% year-on-year.

The projected profit growth in 2024 is driven by anticipated gains in investment markets and reduced provisions at the parent company.

Viettel Global has shown an impressive business performance in the first quarter.

In its first quarter financial report, Viettel Global posted revenue of over 7.9 trillion dong, a 22% increase on the same period last year.

All nine markets experienced strong growth, with five achieving double-digit increases.

The company’s consolidated profit after tax reached over 1.6 trillion dong.

This was a 175% rise compared to the same period last year and the highest level since the third quarter of 2022. — Viet Nam News/ANN

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