Vinasun reported a consolidated after tax loss of nearly VND 54.9 billion in the third quarter of 2026, reversing a profit of more than VND 9.2 billion a year earlier, VnExpress reported. It was the taxi company’s second consecutive loss making quarter and its largest quarterly loss since the Covid-19 period.
Pressure within the income statement
Net revenue fell 18.5% to over VND 177 billion. Cost of sales declined more slowly, leaving nearly VND 156.8 billion in costs and gross profit of just over VND 20 billion. The gross margin narrowed to 11.4% from around 22.4%.
Regular operating expenses then produced an operating loss exceeding VND 22 billion. Other income also moved from a profit of more than VND 7.3 billion to a loss of nearly VND 32.9 billion.
Management cited lower revenue while maintaining driver support. Its explanation did not disclose a separate amount for that support, so the available figures do not isolate its contribution to the loss.
Cumulative performance and the next task
Nine month net revenue exceeded VND 596 billion, down 10.8%. Taxi passenger transport generated more than VND 487 billion, around 82% of revenue, but fell almost 13%. The cumulative after tax loss was nearly VND 68.8 billion, including a loss of almost VND 42 billion from disposing of fixed assets.
VnExpress described a wider competitive backdrop involving ride hailing applications and newer operators. Vinasun said it would continue business partnerships with skilled individuals to attract drivers back. Subsequent reporting periods will show how those efforts affect fleet activity, costs and the company’s ability to restore profitability.