Money making competition between businesses of 5 Vietnamese USD billionaires

Net profits of the companies owned by the 5 billionaires fluctuated. Some increased by 72.4%, while others decreased by nearly 88%.

Net profits of businesses owned by 5 billionaires increased and decreased in opposite directions in the third quarter - Photo: Archive

Billionaires are good at making money for shareholders.

In the third quarter of 2025, billionaire Nguyen Dang Quang's Masan Group recorded nearly VND1,209 billion in net profit (after-tax profit belonging to parent company shareholders), an increase of 72.4% over the same period in 2024.

Net revenue was VND21,164 billion, down slightly by 1.5%. Thanks to a 2.3% decrease in cost of goods sold, gross profit reached VND6,441.5 billion, equivalent to last year.

During the period, the company tried to control costs. Financial costs remained almost unchanged. Selling costs decreased by 8.7%. Business management costs decreased by 11.3%. Other profits were nearly 17 billion VND, compared to a loss of nearly 28 billion VND last year.

In particular, thanks to the deferred corporate income tax expense of only VND 24.5 billion, compared to VND 106.5 billion in the third quarter of 2024, profit after tax reached VND 1,866 billion, an increase of 43.4%.

Accumulated for 9 months, Masan's net profit was 2,634 billion VND, up 101% over the same period.

Net profit growth of enterprises in the third quarter and the first 9 months of 2025 - Chart: NGUYEN NGUYEN

Ranked second in terms of growth is Hoa Phat Group of billionaire Tran Dinh Long with a rate of 31.9%. The company achieved 3,988 billion VND in net profit thanks to revenue growth.

Net revenue recorded VND 36,407 billion, up 7.2% compared to the third quarter of 2024. Subtracting cost of goods sold, gross profit reached VND 6,807 billion, up nearly 29%. Financial expenses increased by 28.8%, of which interest expenses were 54.7%. Selling expenses increased by 11%. Business management expenses increased by 10.9%. Other profits of the enterprise increased sharply from VND 27.4 billion to more than VND 57 billion.

Deferred corporate income tax expense was VND16.7 billion, compared to VND37.1 billion last year, so Hoa Phat's after-tax profit was VND4,012 billion, up 32.8%.

Accumulated for 9 months, the company's net profit was 11,589 billion VND, an increase of nearly 26%.

Billionaire Ho Hung Anh's Techcombank made a profit of VND6,419 billion in the third quarter, up 11.9%. The reason was due to an increase in net interest income and net profit from trading investment securities. Accumulated for the first 9 months of 2025, Techcombank made a profit of VND18,614 billion, up 2.5%.

Billionaire Nguyen Thi Phuong Thao's HDBank earned VND3,647 billion in profit in the third quarter, up 6.5%. Net profit from service activities reached VND1,187 billion, up 2.9 times. Net profit from foreign exchange trading reached VND343 billion, up 2.8 times. Accumulated profit for 9 months, HDBank earned VND11,396 billion, up 18.1%.

Net profit fell sharply

On the other hand, billionaire Pham Nhat Vuong's Vingroup Corporation achieved a net profit of VND640 billion, down nearly 88% compared to the third quarter of 2024. Net revenue was VND39,135 billion, down nearly 38%. Mainly due to real estate transfer revenue reaching VND7,767 billion, down 80% compared to the third quarter of 2024. Production revenue increased by 25.5%. Revenue from providing hotel and tourism services increased by 21.9%.

Net revenue decreased sharply, so although cost of goods sold decreased by nearly 7%, Vingroup had a gross loss of VND 7,290 billion in the period.

However, Vingroup's financial revenue skyrocketed to VND33,505 billion, nearly 4 times higher than the same period in 2024.

Of which, profit from liquidation of financial investments and transfer of subsidiaries was recorded at VND30,021 billion, 5.5 times higher. Financial expenses were at VND11,787 billion, so financial profit reached VND21,718 billion in the third quarter.

In particular, thanks to deferred corporate income tax expense of only VND 181 billion compared to VND 2,052 billion in the third quarter of 2024, Vingroup still had a profit after tax of VND 3,025 billion, an increase of 50% over the same period.

Accumulated for 9 months, Vingroup's net profit was 6,678 billion VND, down 31% compared to the third quarter of 2024.

Net profit margin of enterprises in the third quarter and 9 months of 2025 - Chart: NGUYEN NGUYEN

VietJet Air, owned by billionaire Phuong Thao, reported a net profit of VND319 billion in the third quarter of 2025, down 44% year-on-year. The company recorded net revenue of VND16,931 billion, down nearly 7%. Gross profit of VND2,096 billion, down 17.6% compared to the third quarter of 2024.

Expenses increased and decreased in the third quarter. Financial expenses increased by 10.3%. Of which, interest expenses increased by 29.4%. Selling expenses decreased by 9.2%. Business management expenses decreased by 14.4%. Also thanks to the deferred corporate income tax expense of nearly 79 billion VND compared to more than 188 billion VND last year, the company's profit after tax was 320 billion VND, down 43.9%.

Accumulated for 9 months, VietJet's profit was 1,612 billion VND, an increase of nearly 15% over the same period in 2024.

In terms of net profit margin, Techcombank leads with 65% in Q3 and 68% in the first 9 months of 2025. HDBank ranks second with 47% in Q3 and 46% in the first 9 months of the year. Hoa Phat ranks third with 11% in both Q3 and 9 months of 2025.

Vingroup and VietJet's net profit margin in the third quarter reached 2%, and the cumulative profit margin for the first 9 months reached 4% and 3%, respectively.

NGUYEN NGUYEN

Source: https://tuoitre.vn/so-tai-kiem-tien-giua-cac-doanh-nghiep-cua-5-ti-phu-usd-viet-nam-20251105155713081.htm