IT giant FPT reports 22 pct profit increase

By Minh Son April 28, 2021 | 06:04 pm PT

IT giant FPT has reported a 22.3 percent increase in Q1 pre-tax profit to VND1.4 trillion ($60.8 million), with its technology division the main contributor.

FPT Headquarter in Hanoi. Photo by VnExpress/Minh Son.

The FPT Headquarters in Hanoi. Photo by VnExpress/Minh Son.

Its Q1 revenue increased 14.4 percent year-on-year to VND7.6 trillion.

Serving as its main growth engine, FPT’s technology division sector accounted for 54.7 percent and 40 percent of of its revenue and pre-tax profit, respectively.

Foreign markets accounted for more than VND3.1 trillion of its tech sales, up 9.6 percent from last year, while domestic tech sales surged 40 percent to VND986 billion.

Its telecom division achieved Q1 revenue and pre-tax profit of VND2.9 trillion and VND576 billion, up 10 percent and 29 percent year-on-year, respectively. The telecom growth was driven by broadband Internet and subscription television services.

FPT had reported a 12.8 percent year-on-year increase in pre-tax profit to VND5.26 trillion last year and revenue increased by 7.6 percent to VND29.83 trillion.