Petrovietnam Drilling and Well Service Corporation (HOSE: PVD) announced its consolidated business results for Q3/2025, with total revenue reaching VND 2,646 billion, an increase of 5.1% year-over-year, and profit after tax increasing 54.2% year-over-year, reaching VND 277 billion. The accumulated 9-month results show revenue reaching VND 6,945 billion and net profit reaching VND 673 billion, representing a sharp increase compared to the same period last year.
The increase in revenue and profit during the period was mainly attributed to the contribution from the PV DRILLING VIII rig, which began operations on September 1, 2025, an increase in workload from drilling - related services, and a significant improvement in profits and dividends shared from joint ventures/subsidiaries. Notably, profit after tax reached VND 277 billion, marking a 54.2% increase compared to Q3/2024.
For the accumulated 9-month period, PV Drilling’s revenue increased by approximately 5% compared to the same period last year, reaching VND 6,945 billion, and net profit surged by 46.1%, reaching VND 673 billion. These 9-month results show that PV Drilling achieved 97% of its revenue plan and 127% of its 2025 profit after tax plan. This outcome demonstrates that PV Drilling's business activities have continued to show positive growth since 2023, thanks to the safe and stable operation of its drilling rigs, active maintenance of service quality, increased efforts in securing contracts, and the expansion of new well services, alongside continuous improvement in corporate governance.
Currently, PV Drilling owns 7 offshore rigs, including 6 jack-up rigs and one TAD rig. All rigs have contracts secured until the end of 2026, with several rigs contracted until 2028. Specifically, the recently invested PV DRILLING IX rig is currently in its reactivation process and will be put into operation starting in 2026, which is expected to contribute to increasing the revenue and profit of the drilling segment – the core business sector of the corporation.
Based on the results of the first 9 months and the operational plan for the remaining months, PV Drilling expects to significantly exceed its 2025 annual plan, and notably, its profit before tax is projected to reach its highest level in the past 10 years.
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