Viettel Peru gained more than US$24.5 million in nine months

Thursday, Nov 14, 2019 12:00

Bitel, a subsidiary of the Viettel Military Industry and Telecomes Group in Peru, introduces its 5G testing programme in Ha Noi. — Photo Viettel

Bitel, a subsidiary of the Viettel Military Industry and Telecomes Group in Peru, reported that its total revenue reached $274.2 million and profit before tax of $24.5 million in the first nine months of this year.

Viettel Peru's profit before tax exceeded the plan and increased by 2.5 times over the same period last year, while revenue growth reached double digits.

Currently, Bitel is operated by the Viettel Foreign Investment Joint Stock Corporation (Viettel Global), but Bitel's business results have not been incorporated into Viettel Global's report due to the law provisions in Peru.

Therefore, if calculating the total profit from foreign investment activities in the first nine months of this year made by Viettel Global, the figure will be more than $91 million, of which, nine-month profit before tax is $66.5 million and that of Viettel Peru is $24.5 million.

According to the statistics of Osiptel, Peru’s Supervisory Agency for Private Investment in Telecommunications, in the context of other carriers growing slowly or declining market share this year, Bitel's market share increased by 1 per cent and became the operator with the best market share growth in Peru.

Currently Bitel has a 16.3 per cent market share. Its general director Phan Hoang Viet said that Bitel was expected to gain 18 per cent market share next year.

Bitel also celebrated its fifth year of service and announced the rollout of 5G on October 15. Bitel's 5G network speed on the test achieved a download of 1,506 Mbps and an upload of 78.7 Mbps. — VNS

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