TQM Posted Fiscal Year 2021 Earnings Boosted by 27% amid Higher Revenue and Cost Control

TQM Corporation Pcl. (SET: TQM) has announced its 2021 consolidated financial statement through the Stock Exchange of Thailand as follows;

Yearly 2021 2020
Net Profit (Loss)
Thousand Baht



Earning Per Share THB



% Change


TQM’s net profit of FY2021 was Baht 891.8 million, increasing by Baht 189.8 million, or 27.0% from revenue increase in all channels, and an efficient cost control.

Service revenue of FY2021 was Baht 3,273.6 million, increasing by Baht 191.1 million, or 6.2% from the increase of sales and services of various insurance products and channels. Motor insurance, which is a core business remained strong. In the cost side service cost and expenses of FY2021 was Baht 1,544.6 million, increasing by 1.8%, in line with the growth of total revenue. However, the revenue growth was higher than the cost increase.

Therefore, the percentage of service cost compared to total revenue decreased from 48.4% to 45.1%.

Gross profit of FY2021 was Baht 1,729.0 million, increasing by Baht 164.0 million or 10.5% because the growth of revenue was higher than the cost increase. Especially, online channel generated growth without a significant increase in service costs.

Administrative costs were Baht 781.0 million, increasing by 4.5%. The percentage of admin expenses compared to total revenue decreased from 23.8% to 22.8%.