Srisawad Corporation Public Company Limited (SAWAD) announced its 3Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;
SAWAD reported a net profit of 1,111 million baht in 3Q21, decreased 7.67% from a net profit of 1,204 million baht in 3Q20.
SAWAD stated that as at 31 March 2021, the company had been reclassified the investment in subsidiary (Fast Money Co., Ltd.) to the investment in associate. This represents a decrease in loan to customers from 42,266 million baht to 34,755 million baht because the consolidated financial statement excluded the loan to customers from the associate company.
For the three-month period ended 30 September 2021, interest income totaling 1,624.68 million baht, compared to the interest income from the same period of the prior year which totaled 1,957.95 million baht. This represents a decrease of 333.27 million baht, or 17.02 percent due to the exclusion of interest income of the subsidiary that has reclassified the type of investment to an associate.
For the three-month period ended 30 September 2021, operating expenses totaling 862.94 million baht decreased by 99.34 million baht or 10.32 percent from the same period of the prior year which totaled 962.28 million baht due to an efficient operating expenses management of the company.
According to TFRS 9 related to expected credit loss, the expected credit loss decreased by totaling 100.71 million baht which corresponds to the increase in the quality of loans of the Group for the three-month period ended 30 September 2021.