MobiFone posts 4.6% rise in Q1 revenue

9 Apr 2015

MobiFone, Vietnam’s second largest mobile network operator by subscribers, reported revenue of VND8.556 trillion (USD390 million) for the first three months of 2015, an increase of 4.6% from the year-ago period. VnEconomy cites the cellco’s general director, Le Nam Tra, as saying that net profit totalled VND2.086 trillion for the first quarter of 2015. He added that MobiFone is expected to generate turnover of VND9.460 trillion and profit of VND1.786 trillion during Q2, with net subscriber additions forecast to reach three million. MobiFone was separated from state-owned national PTO Vietnam Posts and Telecommunications (VNPT) in July 2014 and put under the management of the Ministry of Information and Communications (MIC), ahead of a sale of shares in the cellco scheduled for later this year. As the owner of third-largest wireless provider Vinaphone, VNPT had been ordered to reorganise its operations under new legislation that states that a company or individual cannot hold over 20% of the shares in more than one telecoms operator.

Vietnam, MobiFone Telecommunications Corporation