Hanoi Metro recorded record profit in the first half of the year

The recent financial report of Hanoi Railway Company Limited (Hanoi Metro) shows that revenue in the first 6 months of the year reached nearly 547 billion VND, an increase of more than 39% over the same period last year. This level is even higher than the whole year’s revenue of the first 3 years of operation (2021-2023). Of which, ticket sales revenue recorded more than 85 billion VND. The remaining nearly 462 billion VND comes from subsidies.

Minus the cost price, the company has a gross profit of nearly 39.8 billion VND. Gross profit margin was recorded at about 7.3%. In addition, they also had an additional 25 billion VND in financial revenue, an increase of 6%, mainly coming from deposit interest.

The company only spent business management costs, increasing 74% to more than 23 billion VND. Of which, nearly 16 billion VND is spent on salaries for management staff. They say no to finance and sales costs.

Hanoi Metro’s profit after tax is over 33.3 billion VND, more than 3 times higher than the same period. This is also the highest profit this business has ever recorded in a semi-annual period and exceeds the full year profit of the period 2015-2024.

As of the end of June, total assets reached more than 8,026 billion VND, an increase of 105 billion VND compared to the beginning of the year. Of which, the company has about 1,597 billion VND in bank deposits.

Liabilities also increased by 20% to nearly 429 billion VND, most of which are short-term expenses. The company does not have financial debt.

Hanoi Metro is an enterprise under the People’s Committee of Hanoi City, operating two urban railway lines Cat Linh – Ha Dong and Nhon – Hanoi Station. Since last year, the company said that the demand for public transportation has tended to increase, along with the implementation of electronic ticket systems and non-cash payments, creating favorable conditions for brand development and increased operational efficiency.

This year, Hanoi Metro is tasked with serving nearly 21.6 million passengers. Total expected revenue is nearly 1,280 billion VND and profit after tax is about 45.7 billion VND. If successful, this will be the most effective business year in their history.