Vietnamese listed companies report $3.16 billion net profit in 3Q

According to data from Fiinpro Platform, telecommunications, insurance and banking were the sectors with the highest net profit growth, up by 355.4 percent, 49.3 percent and 45 percent respectively.

Communication, chemicals and petroleum were the sectors with the strongest declines, down by 97.3 percent, 35 percent and 28.5 percent respectively.

Among the gainers, the banking industry recorded an impressive net profit value, earning $1 billion, accounting for 31 per cent of the market’s net profit value.

In the quarter, Vietcombank was the best performer in the banking industry, achieving more than $220 million in net profit, up 72 per cent year-on-year. Next were Techcombank and Vietinbank, reporting net profit of $114.3 million and $110 million, respectively.

The real estate sector recorded a net profit of $483.5 million in the third quarter, up 19.7 per cent from more than $395.6 million recorded last year, accounting for 15 percent of the total market’s net profit.

Realty giant Vinhomes alone contributed $242 million, accounting for 50 percent of the sector’s total net profit, followed by Vincom Retail and Vingroup, collecting $31.5 million and $22 million in net profit, respectively.

Excluding Vinhomes’s profit, the whole real estate sector only grew by 3 percent against 2018.

The telecommunication sector grew 3.5 times higher than the previous year, mainly thanks to the contribution of FPT Telecom, which recorded a net profit of $15 million, accounting for 81.3 per cent of the industry's total net profit.

In the opposite direction, the communication sector saw the strongest drop in net profit with the total net profit slumping from over $13 million in third quarter 2018 to only $352,000 in 3Q this year, equivalent to a plunge of 97.3 percent.

This was due to the net loss of $5.3 million of the Media firm Yeah1 Group in third quarter.