GUNKUL 1Q22 Earnings Drop 17% in a Lack of Profit Sharing from JV

Gunkul Engineering Public Company Limited (SET: GUNKUL) has announced its 1Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 1Q22 1Q21
Net Profit (Loss)
Million Baht
503.35 608.59
Earning Per Share
0.0600 0.0700
% Change -17.29

GUNKUL reported a net profit of 503 million baht in 1Q22, decreased 17.29% from a net profit of 608 million baht in 1Q21. 

The Company had total revenue of 2,297.76 million baht, a decrease of 25.35 million baht or 1.09%, compared to the same period of previous year at 2,323.11 million baht. Meanwhile, total expenses edged slightly higher by 1.80%.

In the meantime, share of profits from investments in associates and joint ventures for the period ended 31st March 2022 presented at the amount of 67.59 million baht, compared to the same period of the previous year at 85.89 million baht, a decrease of 18.30 million baht or 21.31%. This is because the revenue from the Adder power purchasing gradually expires in 2020 onwards.