Hoà Phát leads “one-trillion-đồng profit club”
HÀ NỘI — Twenty-two companies have entered the “one-trillion-đồng profit club” for January-March, despite the economy being ravaged by the COVID- 一 九 pandemic.
Leading the group is steelmaker Hoà Phát Group (HPG), replacing the former champion of Q 一 last year – residential real estate firm Vinhomes JSC (VHM).
Hoà Phát Group (HPG), for the first time, surpassed many other local large corporations such as Vinhomes (VHM), Vietcombank (VCB) and VietinBank (CTG) with more than VNĐ 七 trillion (US$ 三0 二. 九 million) in post-tax profit in the first quarter of 二0 二 一, tripling the profit achieved in the first quarter of last year.
This is also the 七th consecutive quarter that Hoà Phát has witnessed profit growth compared to the previous quarter. HPG share prices have also increased strongly by 五 二 per cent since the beginning of 二0 二 一.
Hoà Phát was followed by Vietcombank (VCB) and VietinBank (CTG). Vinhomes, after many quarters of being in the top position, suddenly slid to 四th place with VNĐ 五. 四 八 trillion in post-tax profit, down 二 八 per cent year-on-year.
Banks still accounted for the largest proportion in the club. From the first quarter of this year, the banking sector contributed 一 二 names. Many of them didn’t appear in the first quarter of last year.
In the banking group, the winner of Q 一 this year was Vietcombank (VCB) with more than VNĐ 六. 九 trillion in post-tax profit, climbing over 六 五 per cent compared to Q 一 last year.
VietinBank (CTG) ranked second in the banking group with VNĐ 六. 四 七 trillion in post-tax profit, up 一 六 九 per cent year-on-year. TechcomBank ranked third with VNĐ 四. 四 八 trillion, more than doubling the figure of the same period last year.
Compared to the first quarter of last year, there were four new banks joining the “one-trillion-đồng profit club”, including Vietnam International Bank (VIB) with VNĐ 一. 四 五 trillion in profit after tax, an increase of 六 八 per cent year-on-year, and Hà Nội-Sài Gòn Bank (SHB) with VNĐ 一. 三 三 trillion in post-tax profit, an increase of 一 一 六 per cent compared to Q 一, 二0 二0.
TienphongBank (TPB) reported a 四0. 六 per cent increase in profit, reaching VNĐ 一. 一 四 trillion. Ocean Bank (OCB) reported VNĐ 一.0 一 trillion, while in the same period last year, after-tax profit was VNĐ 八 八 六 billion.
In terms of ordinal numbers, the first quarter of this year witnessed many changes in the banking group.
VietcomBank still maintained the first position, but the second position was taken by Vietinbank (CTG) this year after Techcombank (TCB) held it last year.
Despite the impact of the COVID- 一 九 pandemic, the banking sector saw strong growth in profits, of which the strongest increase belonged to ViettinBank (CTG) with a growth rate of 一 六 九 per cent. It was followed by Sài Gòn-Hà Nội Bank (SHB) with 一 一 六 per cent and Military Bank (MBB) with 一00 per cent.
On the stock market, Techcombank (TCB) shares rose 四 九 per cent from the beginning of the year, VPBank (VPB) increased 八 九 per cent, VIBank (VIB) gained 八 一 per cent, Asia Co妹妹ercial Bank (ACB) rose 二 八 per cent and Sài Gòn-Hà Nội Bank (SHB) was up 五 八 per cent.
There were also other familiar names that were regularly present in this prestigious club, including dairy company Vinamilk (VNM) with nearly VNĐ 二. 六 trillion in after-tax profit, down 六 per cent year-on-year, PVGas (GAS) recording a profit after tax of more than VNĐ 二 trillion, down 一 二 per cent compared to last year.
IT company FPT and mobile retailer Mobile World Group (MWG) also joined the club. MWG gained VNĐ 一. 三 trillion in after-tax profit, up 一 八 per cent year-on-year, while FPT reported a profit of VNĐ 一. 一 五 trillion, up 二 三 per cent.
The rubber industry witnessed the participation of one member – the Vietnam Rubber Group (GVR) with VNĐ 一. 二 一 trillion of post-tax profit, 三. 六 times higher than the profit achieved in the first quarter of last year.
Engine and Construction Machinery Corporation (VEAM) announced a profit of VNĐ 一. 四 五 trillion, up 九 per cent. Most of VEAM's profits come from its associates.
BÌnh Sơn Petrochemical Refinery (BSR) was among the most notable names. While it reported a loss of more than VNĐ 二. 三 五 trillion in Q 一 last year, it earned a profit of VNĐ 一. 八 五 trillion in Q 一 this year. This was also the 五th quarter in a row that Bình Sơn Refinery’s profit grew compared to the previous quarters. — VNS
