Jenkongklai Public Company Limited (mai: JPARK), a leading integrated parking service provider in Thailand, reported a robust financial performance for the first quarter of 2026, characterized by a 40.86% year-on-year (YoY) surge in net profit.
The company’s net profit reached THB 32.96 million, up from THB 23.40 million in 1Q25, primarily fueled by the progressive recognition of major infrastructure projects.
Total revenue from services rose to THB 179.33 million, a 33.97% increase compared to the THB 133.86 million recorded in the same period last year. The standout performer was the consulting and installation business of the parking management system (CIPS) segment, which witnessed an extraordinary 393.98% revenue jump to THB 48.42 million.
This growth was largely attributed to the supply and installation of parking systems for the Mass Rapid Transit Authority of Thailand (MRTA). Meanwhile, the core parking service (PS) business grew by 8.02% to THB 103.17 million, bolstered by new operations at Siriraj Hospital and the Lan Khon Mueang project.
On the expense side, JPARK saw its costs of services rendered increase by 27.26% to THB 120.12 million. This was driven by implementation costs for the MRTA project and higher outsourcing fees for traffic control and maintenance.
Administrative expenses also climbed 42.05% to THB 21.79 million, reflecting a strategic increase in headcount within IT and business development teams to support expansion. Notably, 1Q26 results saw no “gain from subleasing,” which had contributed THB 1.99 million in the prior year.
Despite rising expenses, JPARK expanded its gross profit margin to 33.02%, up from 29.49% in 1Q25. With a net profit margin of 17.95%, the company demonstrates a solid trajectory of growth and efficiency.
Looking ahead, the company continues its heavy investment in infrastructure, including the THB 500 million Kanchanaphisek Medical Center parking building, slated for a 3Q26 launch.
