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PNJ reported net revenue of over 17,245.2 billion VND in Q1 2026, up 79% year-on-year. Net profit reached over 1,467.4 billion VND, up 116.5%.
According to PNJ’s explanations, the strong revenue growth was driven mainly by revenue from 24K gold sales. The jewelry retail segment also continued to maintain a positive growth trajectory.
After deducting cost of goods sold, gross profit amounted to over 3,440.9 billion VND, up 68% year-on-year.
In the quarter, financial revenue was over 52.4 billion VND, up 39%. Financial costs rose from 37 billion VND to nearly 55.1 billion VND. Selling expenses increased 34.4% to over 1,352 billion VND, while administrative expenses were over 222.1 billion VND, up 14.7%.
By 31 March 2026, PNJ’s total assets declined 2.3% from the start of the year to about 19,692.8 billion VND. Inventories were over 13,419 billion VND, representing 68.1% of total assets. Short-term financial investments were over 3,586.4 billion VND, while cash and cash equivalents were over 923.5 billion VND.
On the liability side, total liabilities stood at over 5,291.6 billion VND, down 23.2% year-on-year. Short-term borrowings and financial lease payables were over 2,893.6 billion VND, accounting for 54.7% of total debt.
In the quarter, PNJ opened two stores and closed three stores. As of the period end, PNJ operated 430 stores: 422 PNJ stores, 3 Style by PNJ stores, 4 CAO Fine Jewellery stores, and 1 Wholesale Business Center.
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