Thai integrated parking management provider Jenkongklai Public Company Limited (mai: JPARK) delivered an 83.74% year-over-year surge in net profit for the third quarter ended September 30, 2026, reaching THB 22.03 million. Total service revenue expanded 20.20% year-over-year to THB 150.03 million, driven by new parking site launches and a sharp acceleration in smart system installation contracts.
Key Financial Highlights
- Net Profit: THB 22.03 million (+83.74% YoY)
- Service Revenue: THB 150.03 million (+20.20% YoY)
- Gross Profit Margin: 20.76% (compressed from 24.73% in 3Q25)
- Debt-to-Equity Ratio: 0.92x (up from 0.37x at FY25-end)
Top-line growth was anchored by the core Parking Service (PS) division, which generated THB 105.87 million (+11.49% YoY), representing 70.56% of service revenue. Revenue gains were driven by operational kickoffs at Siriraj Hospital, Lan Khon Mueang, and the newly completed THB 600 million Golden Jubilee Medical Center parking structure in Salaya.
The Consulting and Installation Parking System (CIPS) segment recorded the fastest expansion, surging 220.83% year-over-year to THB 12.45 million as the company recognized revenue on percentage-of-completion progress for the Mass Rapid Transit Authority of Thailand (MRTA) and Siriraj Piyamaharajkarun Hospital projects. Parking Management Services (PMS) rose 10.34% YoY to THB 25.07 million.
Despite top-line expansion, core operational margins tightened. Gross profit margin compressed to 20.76% from 24.73% in 3Q25, as geopolitical conflicts increased hardware and equipment costs in the CIPS segment.
Bottom-line growth was significantly boosted by non-operating income: other income jumped 337% YoY to THB 21.81 million, driven by THB 17.50 million in liquidated damages collected for construction delays on the JPARK Kanchanasuk parking building project.
JPARK strengthened its liquid reserves to THB 195.24 million in cash and cash equivalents, supporting a total asset base of THB 1.61 billion. Total liabilities rose to THB 771.12 million, reflecting THB 280.74 million in long-term financial institution loans drawn down under a 7-year facility to finance infrastructure construction. Consequently, the Debt-to-Equity ratio increased to 0.92x (from 0.37x at FY25-end), while the Current Ratio stood at 0.84x.
Management continues to execute a technology-driven growth strategy centered on smart parking automation and portfolio expansion. JPARK recently established a wholly-owned subsidiary, JPARK NEXT Co., Ltd. (capitalized at THB 10 million), to capture market share in control systems, software applications, and technical maintenance. Construction is also underway for a 1,084-slot parking structure at Nakhon Si Thammarat Airport under a 10-year lease.
