Hanoi Metro announces profit from Cat Linh–Ha Dong metro line

The Hanoi Railway Company Limited (Hanoi Metro), the operator of the Cat Linh – Ha Dong urban metro line, announced that in 2023, the company made a profit of over 13 billion VND (510,730 USD), nearly six times more than the previous year.

Passengers at the Cat Linh–Ha Dong urban metro line. (Photo: VNA)
Passengers at the Cat Linh–Ha Dong urban metro line. (Photo: VNA)

Hanoi (VNS/VNA) - The Hanoi Railway Company Limited (Hanoi Metro), the operator of the Cat Linh – Ha Dong urban metro line, announced that in 2023, the company made a profit of over 13 billion VND (510,730 USD), nearly six times more than the previous year.

This marks the second consecutive year the company has reported a positive profit after seven years of losses.

The company’s latest audited financial statements showed that the company’s revenue in 2023 reached over 515 billion VND (20.2 million USD), an increase of nearly 7% compared to 2022. Ticket sales accounted for approximately 74 billion VND (2.9 million USD), a 12.5% increase, with the remainder coming from subsidies.

The cost of goods sold increased more than revenue, causing the gross profit for 2023 to be halved to 7.8 billion VND. Consequently, the gross profit margin fell to around 1.5%.

Financial income surged 12.7 times to nearly 26.6 billion VND (1.04 million USD), all of which came from interest on deposits as the company had over 685 billion VND (26.9 million USD) in idle funds in the bank. Additionally, the company completely cut loan interest expenses, so no financial costs were recorded during the period.

Overall, the company made a post-tax profit of over 13 billion VND (510,730 USD), a 570% increase compared to 2022 and double the planned target.

In 2022, the company had initially reported a profit of nearly 97 billion VND (3.8 million USD) in its first financial report. However, the audit firm required the company to include depreciation costs for 15 specialised maintenance equipment for the Cat Linh–Ha Dong metro line into production costs. As a result, the profit for 2022 was adjusted to over 2 billion VND (78,570 USD).

The company also increased its equity capital from over 39 billion VND to more than 2.68 trillion VND, a 69-fold increase. Conversely, liabilities decreased 8.7 times to nearly 347 billion VND, mainly due to the completion of procedures to receive all assets of the Cat Linh – Ha Dong metro line.

This year, the company aims to transport nearly 11 million passengers and record total revenue of over 529 billion VND (20.7 million USD), an increase of about 3% compared to 2023. The company plans to make profit for the third consecutive year, with a target of over 13.4 billion VND (526,540 USD).

In addition to continuing to develop and operate the existing urban railway line, the company targets to establish the organisation and personnel needed to operate the Nhon – Hanoi Station metro line, including trial operations, management plans, ticket pricing, and subsidy policies for this project.

This urban metro line is more than 13km long and has 12 stations and 13 trains. Each train, whose designed speed is 80 km per hour, has four carriages capable of carrying over 900 passengers.

Currently, ticket prices range from 8,000 VND for a single ride to 15,000 VND for the entire route. A daily pass costs 30,000 VND per ticket, and a monthly pass costs 200,000 VND./.

VNA

See more

Consumers shop at the WinMart Vo Thi Sau supermarket in Hanoi's Hai Ba Trung district. (Photo: VNA)

Hanoi keeps CPI well under control

The CPI for the first quarter of 2025 increased by 2.75% compared to the same period last year, indicating that inflation remains well under control.

Vietnam’s KRX trading system is set to go live on May 5. (Photo: VietnamPlus)

Vietnam to launch KRX trading system on May 5

The KRX system is currently in its final testing phase before full implementation. During this period, securities firms are conducting simulated trading sessions as if on a normal trading day.

Vietnam has proactively reviewed and adjust tariffs, particularly on US imports, as part of efforts towards balanced trade relations. (Illustrative photo - Source: VNA)

Vietnam reviews, adjusts import tariffs to promote trade balance

The Ministry of Finance is now working closely with other agencies to evaluate policy options that support businesses. Possible solutions include market diversification, supply chain optimisation, and leveraging opportunities from Vietnam’s existing free trade agreements.

Illustrative photo (Photo: VNA)

Retail petrol prices up in latest adjustment

Under the new pricing structure, E5 RON92 and RON95-III have increased by 341 VND and 495 VND per litre to a maximum of 20,373 VND (0.79 USD) and 20,919 VND per litre, respectively.

The Lumitel brand is being promoted on walls across Burundi. (Photo: Viettel)

Lumitel – A bright spot in Vietnam-Burundi collaboration

After a decade of operations, Lumitel has become the leading telecommunications provider in Burundi and one of the largest contributors to the Burundian government's budget, providing stable employment for over 60,000 workers and indirectly creating around 100,000 jobs.

Belarusian Deputy Prime Minister Anatoly Sivak speaks at the forum. (Photo: VNA)

Ample room remains for Vietnam - Belarus trade cooperation

To further develop the Vietnam-Belarus economic and trade relationship, it is essential to enhance trade promotion and investment initiatives such as trade fairs, forums, thematic workshops, and trade connections, which serve as an important bridge for businesses from both sides to meet, connect, and seek cooperation opportunities.

The 5th Exhibition of Ho Chi Minh City and Friendship Provinces and Cities in Savannakhet takes place from April 2 to 6. (Photo: VNA)

Vietnam, Laos boost trade at Savannakhet expo

Vice Governor of Savannakhet Saensak Soulisak highlighted the exhibition’s role in expanding trade collaboration, enabling businesses to connect, share experience, and explore investment prospects. He also noted its significance in promoting local products to a wider market.

Visitors at the exhibition (Photo: VNA)

Vietnam Expo 2025 opens, spotlighting digital transformation, innovation

This year’s edition, themed “Step together in a digitised world,” has attracted around 400 businesses from 18 countries and territories, with over 500 booths. Alongside traditional networking, it introduces online business-to-business (B2B) matching, enabling year-round connections.

Prime Minister Pham Minh Chinh speaks at the second meeting of the National Steering Committee for building the private economic sector development project (Photo: VNA)

Private sector encouraged to join major national programmes, projects

It must fully unleash the productive capacity and resources of the country through the private sector; mobilise all private resources for national development; harness the effectiveness of internal forces, including human, natural resources, history, and culture, while effectively combining them with external resources such as capital, technology, human resources, and management experience, he said.

At the annual Vietnam-Cambodia business dialogue in Phnom Penh on April 4 (Photo: VNA)

Annual Vietnam-Cambodia business dialogue held in Cambodia

The annual business dialogue in Cambodia attracted around 150 delegates, including Vietnamese businesses and Vietnamese-origin companies operating in Cambodia across various sectors such as finance, banking, insurance, telecommunications, agriculture, construction, interior design, food services, transportation, logistics, trade, healthcare, and tourism.