Hanoi Metro posts first profit

By Tu Dat   May 9, 2023 | 03:46 am PT
Hanoi Metro posts first profit
A Cat Linh – Ha Dong Metro train is seen in Hanoi. Photo by VnExpress/Pham Chieu
Hanoi Metro, operator of the capital’s first metro line, posted its first profit last year at nearly VND97 billion ($4.14 million).

The profit was a turnaround from the VND37 billion loss recorded in 2021.

The company saw revenues surge sevenfold to VND483 billion.

The Cat Linh – Ha Dong Metro Line began commercial operation in June 2021.

By the end of last year, it was posting an accumulated loss of nearly VND37 billion, one-fifth of the losses in 2021.

Hanoi Metro also started to receive city subsidies in ticket sales last year, which it said would help improve its financial report.

The company sells a ticket for VND8,000-15,000 depending on the trip length. A monthly ticket costs VND200,000, with students and industrial workers paying half.

It now has nine trains operating, with a train running every six minutes during peak hours.

The Cat Linh – Ha Dong Metro Line, which took 10 years to complete, runs 13 kilometers on elevated tracks through 12 stations.

Each train can carry a maximum of 960 passengers. A complete trip takes 23 minutes.

Hanoi Metro plans to serve over 10.6 million passengers this year.

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