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./.

See more

Vietnam offshore wind energy technical potential report 2025 announced
The report also provides information on topography, geomorphology, marine meteorological hazards, and oceanographic conditions in the East Sea and along coastal areas of Vietnam, which are critical factors for the design and construction of offshore wind power projects.

Vietnam Beautycare Expo 2025 opens in Hanoi
The Vietnam Beautycare Expo 2025 aims to facilitate trade and business connections between industry professionals, helping visitors seek out suppliers, distribution partners, and retailers in the beauty and personal care sectors.

Vietnam Airlines unveils Lac bird-themed livery on Boeing 787-9 aircraft
Vietnam Airline Deputy General Director Dang Anh Tuan said that the Lac bird embodies the pioneering spirit, the desire to conquer, and the will to continuously rise, adding displaying the symbol on Boeing 787, a pride of the global aviation technology, showcases the airline’s aspirations to connect the tradition and the future while carrying the Vietnamese identity across the world.

New charter flights boost Russian tourism to Khanh Hoa
Flight EO3661 operated by IKAR Airlines landed at Cam Ranh International Airport on April 18, carrying 350 Russian tourists from Novy International Airport in Russia. This marks the first charter flight organised by Pegas Misr Vietnam Travel Co., Ltd. to bring Russian tourists back to Khanh Hoa after a long pause due to the COVID-19 pandemic.

Chinese expert advises Vietnam on free trade zone development
Vietnam is preparing to develop three FTZs in Hai Phong, Da Nang, and Ba Ria – Vung Tau, with plans to expand to other localities with strong air and rail connectivity, beyond just those with seaports

Remittances to HCM City reach over 2.41 billion USD in first quarter
Remittances to Ho Chi Minh City reached over 2.41 billion USD, accounted for 25.3% of the total for the entire year 2024 and marking an increase of 19.6% compared to the previous quarter.

Vietnam Airlines to shift HCM City–Hanoi flights to Tan Son Nhat airport's Terminal T3 on April 19
The move to Terminal T3 not only aims to improve the customer experience but also supports Tan Son Nhat Airport’s vision to become a dynamic aviation hub in Asia.

LynkiD – Vietnam’s technology representative for loyalty solutions at P4G Summit
With a mission to 'green' the consumer ecosystem through technology, LynkiD played a vital role in building a circular economy model and advancing sustainable consumer behaviour.

Reference exchange rate down 5 VND on April 18
With the current trading band of +/- 5%, the USD/VND ceiling rate applicable for commercial banks during the day is 26,143 VND/USD and the floor rate 23,653 VND/USD.

About 76,000 train tickets sold for coming national holiday travel
The number of passengers is expected to keep rising in the days leading up to the holiday, especially on short-distance and regional routes.

PM approves adjusted national power development plan for 2021-2030
The key objective is to ensure sufficient electricity for national socio-economic development toward an average GDP growth rate of around 10% per annum during 2026–2030, and approximately 7.5% per annum for 2031–2050.

PM chairs leaders-business community dialogue on public-private partnership for innovation, sustainability
Prime Minister Pham Minh Chinh affirmed that Vietnam always listens to and understands the opinions of businesses at a dialogue between leaders and the business community on Public-Private Partnership for innovation and sustainability held in Hanoi on April 17 within the framework of the 4th Partnership for Green Growth and the Global Goals 2030 (P4G) Summit.

Petrovietnam urged to uphold tradition, foster innovation
The group needs to continue implementing reforms and innovations, applying advanced governance methods to enhance management efficiency, manage resources effectively, and improve competitiveness, he said.

PM seeks IFAD’s support for Vietnam’s carbon credit market development
Highlighting the country's commitment to developing green and sustainable agriculture, PM Chinh requested IFAD to increase preferential loans and promote non-refundable aid for projects applying scientific and technological innovations in agriculture, while helping Vietnam successfully carry out the one million hectares of low-emission, high-quality rice project.

Green growth – an irreversible global trend: P4G discussions
Ministerial discussions were held on April 17 within the framework of the 4th Partnership for Green Growth and the Global Goals 2030 (P4G) Summit, bringing together domestic and international officials to address critical aspects of sustainable development and green transition.

Petrol prices fall for second consecutive adjustment
E5 RON92 petrol has been capped at 18,498 VND (0.71 USD) per litre, down 384 VND, while RON95-III petrol now costs 18,856 VND per litre, a decrease of 351 VND.

Singaporean, Indonesian companies seek investment opportunities in Can Tho
Can Tho is preparing to break ground on a 300-ha secondary factory in the Vietnam-Singapore Industrial Park (VSIP). Therefore, the city is eager to attract investments, especially from Singapore.

First commercial ship docks at new berths in Hai Phong
The official launching of terminals marks Hai Phong Port’s regional leading ability in port operations and reaffirms Hai Phong Port JSC’s key role in the North. Once HTIT is fully operational, Hai Phong Port’s market share in container cargo in the region is expected to reach 40%, and 60% for non-container cargo in the Hai Phong area.

New terminal of Tan Son Nhat Airport put into use today
By the end of April, all domestic flights of Vietnam Airlines will officially operate at this new terminal, except for the ones linking HCM City with Con Dao, Ca Mau, and Rach Gia.

Reference exchange rate down 6 VND on April 17
The ceiling rate applicable for commercial banks during the day is 26,138 VND/USD and the floor rate 23,648 VND/USD.