Ranking of the Top 20 Companies with the Highest Pre-Tax Profits in Q3 2024
Source: cafefcdn.com
Vinhomes (VHM) takes the lead in pre-tax profit for Q3 2024. The company has reclaimed the top spot from Vietcombank (VCB) after two quarters.
Specifically, Vinhomes announced its Q3 2024 financial results, with net revenue reaching VND 33,323 billion, a slight increase of nearly 2% compared to the same period last year. After deducting various expenses, Vinhomes reported a pre-tax profit of over VND 10,800 billion for Q3 2024.
Vinhomes’ Q3 2024 Financial Highlights (in VND billion)
Vietcombank (VCB) stands as the runner-up, with a consolidated pre-tax profit of VND 10,699 billion in Q3 2024, an 18% increase compared to the same period and the highest in the banking system. For the first nine months, the bank’s pre-tax profit reached VND 31,533 billion, a 7% increase. As of the end of September, Vietcombank’s total assets amounted to VND 1.93 million billion, a 5% increase compared to the beginning of the year.
Source: cafefcdn.com
The next three banks in the Top 5 profit rankings are MB (VND 7,308 billion), Techcombank (VND 7,214 billion), and Vietinbank (VND 6,522 billion). Notably, eight out of the top 10 companies with the highest profits on the stock exchange are banks. Expanding to the top 20, this number increases to 12 banks.
The remaining non-financial company in the top 10 is Vingroup (VIC) – the parent company of Vinhomes and VinFast. In the last quarter, this enterprise generated a record-breaking revenue of VND 62,851 billion. Its pre-tax profit reached VND 4,705 billion, a 5% increase compared to the same period last year.
The other well-known non-financial companies in the group include Hoa Phat, PV Gas, Vinamilk, FPT, and ACV.
The surprise entry in the top 20 this time is Novaland (NVL). According to its Q3 2024 financial statements, the company achieved a record net profit of VND 3,120 billion in the quarter, 18 times higher than the same period last year. Although both revenue and gross profit increased significantly year-over-year, Novaland would have incurred a loss if not for the financial revenue of nearly VND 3,900 billion.
Novaland’s Q3 2024 Financial Highlights (in VND billion)
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