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Taxi firm Vinasun (VNS) revenue plunges 10 times

Oct 22nd at 07:46
22-10-2021 07:46:03+07:00

Taxi firm Vinasun (VNS) revenue plunges 10 times

Taxi firm Vinasun saw its revenue in the third quarter plunge 10 times to VND23 billion ($991,000) as the fourth Covid-19 wave wrecked the transport industry.

A Vinasun taxi seen in Ho Chi Minh City. Photo by Shutterstock/StreetVJ

The company posted a loss of VND91 billion, its seventh losing quarter in a row, increasing the chances of being delisted from the Ho Chi Minh Stock Exchange (HoSE).

Months of strict social distancing in HCMC, where the company mostly operates, have caused revenue to plunge due to restrictions on public transport.

In the first nine months, revenue fell by nearly half year-on-year to VND400 billion. It subsequently recorded a loss of VND188 billion.

In the next 12 months, the company needs to pay nearly VND100 billion in loans.

Vnexpress

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