RS Posts Net Profit of THB13 Million in 2Q22

RS Public Company Limited (SET: RS) has announced its 2Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 2Q22 2Q21
Net Profit (Loss)
Million Baht
13.066 53.601
Earning Per Share (Baht) 0.0136 0.056
% Change -75.6
6 Months 2022 2021
Net Profit (Loss)
Million Baht
68.028 193.811
Earning Per Share (Baht) 0.071 0.2024
% Change -64.9

For 2Q22, RS recorded a net profit of 13.1 million baht, decreasing by -76.2% QoQ and -75.6% YoY due to decline in commerce revenue following sluggish economy, as well as higher financial cost from investment in ULife. In addition, the company recognized the profit under equity method from the investment in Chase Asia Co., Ltd in 2Q22 at the amount of 9.4 million baht, decreasing from the previous quarter due to higher bad debt reserve.

Revenue from sales and services for 2Q22 recorded 827.7 million Baht, decreasing by -2% QoQ and -16.6% YoY. Despite continuous recovery of the entertainment business, revenue from the commerce business declined as RS Mall platform was affected by the economy and weakening consumer spending.