Hanoi Metro posts first profit
Hanoi Metro, the operator of the capital’s first metro line, posted its first profit last year at nearly VND97 billion ($4.14 million).
The profit was a turnaround from the VND37 billion loss recorded in 2021.
The company saw revenues surge sevenfold to VND483 billion.
The Cat Linh – Ha Dong Metro Line began commercial operation in June 2021.
By the end of last year, it posted an accumulated loss of nearly VND37 billion, one-fifth of the losses in 2021.
Hanoi Metro also received city subsidies in ticket sales last year, which it said would help improve its financial report.
The company sells a ticket for VND8,000-15,000 depending on the trip length. A monthly ticket costs VND200,000, with students and industrial workers paying half.
It now has nine trains operating, with a train running every six minutes during peak hours.
The Cat Linh – Ha Dong Metro Line, which took 10 years to complete, runs 13 kilometers on elevated tracks through 12 stations.
Each train can carry a maximum of 960 passengers. A complete trip takes 23 minutes.
Hanoi Metro plans to serve over 10.6 million passengers this year.