FPT revenue, profit grow in first quarter

Tuesday, Apr 25, 2023 10:20

Newly-built headquarters of FPT in Ha Noi. — Photo courtersy of FPT

FPT Corporation, Viet Nam’s leading technology firm, said it recorded revenue of VND11.6 trillion (US$486 million) and profit before tax of VND2.12 trillion in the first quarter of 2023, increases of 20.1 per cent and 19.2 per cent, respectively, from the same period last year.

The group’s earning per share (EPS) reached VND1,361, an increase of 19.8 per cent compared to the previous year, showing the relentless efforts of the leaders and staff of FPT Corporation to create shareholder value and ensure the interests of shareholders and related parties.

The corporation’s technology sector (including domestic IT services and global IT services) continues to play a key role, contributing 59 per cent of revenue and 43 per cent of pre-tax profit of the Corporation, or equivalent to VND6.84 trillion (+21.3 per cent) and VND906 billion (+19.5 per cent), respectively.

Global IT Service revenue reached VND5.43 trillion, up 32.2 per cent, and profit before tax stood at VND889 billion, an increase of 33.2 per cent over the same period last year. Notably, revenue grew in all markets, especially in Japan (up 31.2 per cent YoY) and Asia-Pacific (up 65.7 per cent), thanks to rising demand for digital transformation. Digital transformation revenue reached VND2.1 trillion, an increase of 28 per cent over the same period a year ago, affirming the ability of the company to provide effective and comprehensive digital transformation services.

The domestic IT services segment showed a recovery compared to the first two months of the year, reaching revenue and pre-tax profit of VND1.4 trillion and VND18 billion, respectively. However, the figures are still 8 per cent and 80.6 per cent lower, respectively, over the same period a year earlier.

The domestic market faced short-term difficulties in Q1 due to a decrease in demand for IT investment from local enterprises. The company continues to promote cooperation with Government sectors, foreign businesses and other resilient economic sectors to ensure growth.

Meanwhile, telecommunications sector revenue grew by 9.2 per cent year on year, reaching VND3.79 trillion. The slower growth in profit-before-tax was mainly caused by a drop in demand for Online Advertising.

Strong demand for education in the IT industry contributed to boosting FPT's education revenue by 47 per cent compared to the same period last year, reaching VND1.41 trillion. — VNS

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