The fuel retailer recorded net revenue of VND 98.7 trillion (approximately USD 3.83 billion) in the first three months of 2026, up more than 45 per cent year on year. However, higher input costs kept gross profit largely unchanged at about VND 3.7 trillion (approximately USD 143 million).
Expenses rose significantly during the period. Financial costs increased more than 32 per cent to over VND 388 billion (approximately USD 15 million), while selling expenses climbed more than 19 per cent to around VND 3.99 trillion (approximately USD 154 million). Administrative expenses reached more than VND 329 billion (approximately USD 13 million).
After accounting for these costs, the group reported a net loss of more than VND 662 billion, compared with a profit of over VND 210 billion in the same period last year.
Inventories surged to nearly VND 29.8 trillion (approximately USD 1.15 billion) by the end of March, including provisions of more than VND 6.5 trillion (approximately USD 250 million), rising sharply from the start of the year.
Total assets stood at more than VND 106 trillion (approximately USD 4.11 billion), up over 23 per cent. Short term assets accounted for more than 75 per cent of the total, while cash, deposits and financial investments reached over VND 10 trillion (approximately USD 389 million).
Earlier, the company warned of unverified information circulating online regarding its financial position, urging investors and the public to rely on official sources.