Vietnam's Vietjet Aviation Q1 net profit up sharply at $60mn

HANOI: Vietnam's budget airline Vietjet Aviation said on Wednesday net profit rose sharply in the first quarter, on strong revenue growth.

The company said net profit in the January-March period rose over three-fold to 1.366 trillion dong ($60 million), while revenue more than doubled to 12.56 trillion dong from the year-ago period.

The company said last month it was targeting a pretax profit of 5.8 trillion dong this year, up 9.4 percent, and a 20.5 percent increase in revenue to 50.97 trillion.