Vietnam Post and Telecommunications Group (VNPT) has recently released its financial report for the first half of 2024.
According to the consolidated financial statements, revenue for this period reached VND 26,366 billion, a 6.5% increase compared to the first half of 2023. With a slower growth rate in cost of goods sold, gross profit amounted to VND 6,974 billion, a 13.6% increase.
After deducting expenses, VNPT reported a pre-tax profit of VND 2,936 billion, a nearly 20% growth. Net income was VND 2,203 billion.
As of June 30, 2024, VNPT’s total assets amounted to VND 108,426 billion, an increase of nearly VND 3,500 billion (3.32%) from the beginning of the year.
In VNPT’s asset structure, short-term financial investments accounted for the largest proportion, amounting to nearly VND 60,000 billion. As most of these investments are bank deposits, VNPT earned VND 1,453 billion in financial income in the first six months of 2024. Previously, in 2023, VNPT received VND 3,739 billion in bank interest, equivalent to over VND 10 billion per day.
Earlier this year, the Ministry of Information and Communications held an auction for 4G/5G frequency bands. As a result, Viettel won the auction for frequency block B1 (2500-2600 MHz) with a bid of VND 7,533 billion, while VNPT secured frequency block C2 (3700-3800 MHz) for VND 2,581 billion.
According to a representative of the Ministry of Information and Communications, the successful auction is a necessary condition and a prerequisite for commercializing 5G nationwide in 2024. It also concretizes the goal of universalizing the national digital infrastructure, promoting the development of digital applications and ecosystems, and creating a new driving force for economic growth and labor productivity improvement.
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