Vingroup reports record quarterly sales

By Minh Son   October 25, 2023 | 02:00 am PT
Vingroup reports record quarterly sales
View of Vinhomes Central Park in Binh Thanh District, Ho Chi Minh City. Photo by Shutterstock/AJNguyen
Conglomerate Vingroup has reported net revenues of VND48 trillion (US$2 billion) for the third quarter, its highest ever quarterly figure.

It represented a 67% rise year-on-year. Its gross profit more than doubled to VND11 trillion, its consolidated financial statements show.

For the year to date, revenues were up 122% atVND134 trillion following sales of villas and houses at its Vinhomes Ocean Park 2 and Park 3 projects in Hanoi and higher electric vehicle sales.

Subsidiary VinFast, which listed on the U.S.’s NASDAQ stock market in August, delivered more than 10,000 electric vehicles in the third quarter and 21,342 in the first nine months.

Vingroup's nine-month after-tax profit was VND1.556 trillion.

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