Vietnam National Petroleum, VN000000PLX1

MASVN sees VND 2.094 trillion profit for Vietnam National Petroleum stock

Published on 10/21/2026 at 11:56 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-half revenue rose to VND 234.916 trillion, up 63.00 percent. That growth gives Vietnam National Petroleum stock a sharper 2026 earnings test.

Earnings and operating scale

MASVN projected VND 2.094 trillion in third-quarter 2026 profit, up 78.00 percent, on October 10, 2026.
First-half revenue reached VND 234.916 trillion, an increase of 63.00 percent from the prior-year period.
Petrolimex had expanded E10 sales across more than 1,800 stores by June 1, 2026.

Vietnam National Petroleum, VN000000PLX1, Illustration mit AI erstellt.

Vietnam National Petroleum (ISIN VN000000PLX1) was projected by MASVN to earn VND 2.094 trillion in third-quarter 2026 profit, up 78.00 percent from the prior-year period. The forecast was reported by CVS on October 10, 2026.

Forecast rests on volume

The projected profit follows a strong first half. Vietnam National Petroleum recorded VND 234.916 trillion in first-half 2026 revenue, up 63.00 percent year over year, while net income attributable to the parent company reached VND 2.046 trillion, up 36.00 percent, CVS reported.

Independent financial analysis placed second-quarter 2026 revenue at VND 136.218 trillion, up 38.00 percent year over year, with net income of VND 3.045 trillion and a 2.24 percent net margin, according to iShare.

What supports the forecast?

Operating scale is the central support for the estimate. Petrolimex had rolled out E10 across more than 1,800 stores and more than 1,400 franchise distributors from June 1, 2026, while nine-month average volume was projected to rise 16.00 percent year over year, CVS reported.

Three dates shape the case

On June 1, 2026, Petrolimex expanded E10 sales across its store network. On September 3, 2026, the company disclosed an explanation related to its reviewed first-half financial statements, according to Algolab. On October 10, 2026, the MASVN forecast put third-quarter profit at VND 2.094 trillion, up 78.00 percent year over year, CVS reported.

Policy can change margins

Petrolimex also adjusted fuel prices effective October 8, 2026, under the country's fuel-management framework. The company said the revised prices applied across its distribution system, including company-owned, agency and franchise stations, in an official release dated October 8, 2026, Petrolimex said. That policy setting matters because the forecast depends on both higher volume and the ability to protect distribution economics.

Earnings remain the next test

The investment question is whether the projected third-quarter growth reflects a durable operating improvement or a favorable comparison base. Second-quarter results benefited from a reversal of inventory write-down provisions linked to earlier oil-price movements, so the quality of underlying profit will matter alongside the headline growth rate, according to Investify.