Vietnam's corporate profits surge 34.8% in Q1 2026, led by oil and gas boom
Vietnam’s corporate sector saw strong profit growth in the first quarter of 2026. Net profits after tax rose by 34.8% compared to the same period last year. Several key industries led the surge, though performance varied widely across sectors. The financial sector recorded a 12% increase in profits during the quarter. Meanwhile, non-financial corporations achieved even higher growth, with profits climbing 55.2%. Even when excluding companies linked to Vingroup, the overall market still posted a 33.8% rise in earnings.
The oil and gas sector experienced the most dramatic jump, with profits soaring over 603% year-on-year. Binh Son Refining and Petrochemical JSC was the main driver behind this surge. Utilities also performed well, with a 38.1% profit increase, thanks to strong contributions from PV Power and EVNGENCO3. In the mid-cap segment, profits grew by 85.9%, led by companies such as BSR, Novaland, and PNJ. The VN30 group, which includes major firms like Vinhomes, Hoa Phat, and VietinBank, saw a 48% profit increase. Real estate profits rose by 32.2%, largely due to large wholesale transfer deals within Vingroup. However, not all sectors thrived. The IT industry struggled, with weak growth mainly because of sharp declines in Saigontel’s profits.
The first quarter of 2026 highlighted strong profit gains in most sectors, particularly oil and gas, utilities, and mid-cap firms. While overall market performance remained robust, some industries, like IT, faced challenges. The results reflect both broad economic growth and sector-specific trends.
