FPT revenue, profit grow in first quarter

April 25, 2023 - 10:20
FPT corporation – Việt Nam’s leading technology corporation reports today it recorded revenue of VNĐ11.6 trillion (US$486 million) making a profit before tax of VNĐ2.12 trillion in the first quarter 2023


Newly-built headquarters of FPT in Hà Nội. — Photo courtersy of FPT

HÀ NỘI — FPT Corporation, Việt Nam’s leading technology firm, said it recorded revenue of VNĐ11.6 trillion (US$486 million) and profit before tax of VNĐ2.12 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 VNĐ1,361, 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 VNĐ6.84 trillion (+21.3 per cent) and VNĐ906 billion (+19.5 per cent), respectively.

Global IT Service revenue reached VNĐ5.43 trillion, up 32.2 per cent, and profit before tax stood at VNĐ889 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 VNĐ2.1 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 VNĐ1.4 trillion and VNĐ18 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 VNĐ3.79 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 VNĐ1.41 trillion. — VNS