Viettel Global posts $34 mln profit

By Dat Nguyen July 31, 2020 | 05:56 pm PT

Customers register for telecom services of Mytel, a venture of Viettel Global in Myanmar. Photo courtesy of Viettel.

Viettel Global, a foreign investment unit of telecoms giant Viettel, saw H1 post-tax profit rise 4.3 percent year-on-year to VND779 billion ($34 million).

Revenue in the period rose 9.7 percent to VND8.6 trillion ($374 million) thanks to growth in its three markets of Southern Africa, Latin America and Southeast Asia despite Covid-19 impacts.

A total 51 percent of its revenue came from Southeast Asia, where its partner companies Viettel Myanmar, Star Telecom (Laos) and Metcom (Cambodia) saw double-digit growth in revenue.

However, Viettel Global posted a post-tax loss of VND123 billion ($5.3 million) in the second quarter alone, which it ascribed to major currency fluctuations in its markets caused by the pandemic.

Viettel Global was established in 2006 to spread military-run Viettel Group’s presence in foreign markets. It currently operates in Cambodia, Laos, Timor Leste, Mozambique, Burundi, Haiti, Peru, Cameroon, Tanzania and Myanmar.