MTC Reports Flat Profit Growth in 3Q22 as Expected Credit Loss Surges Significantly

Muangthai Capital Public Company Limited (SET: MTC) announced its 3Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 3Q22 3Q21
Net Profit (Loss)
Million Baht
1,205.28 1,200.77
Earning Per Share
0.5700 0.5700
% Change 0.38
9 Months 2022 2021
Net Profit (Loss)
Million Baht
3,961.46 3,844.50
Earning Per Share (Baht) 1.8700 1.8100
% Change 3.04

MTC reported a flat growth for its 3Q22 net profit for Baht 1,205 million with a net profit margin of 23.24%. The total revenue was Baht 5,185 million, increased by Baht 1,153 million, or 28.60 percent, from the same period of the previous year.

For the three-month period ended 30 September 2022, the expected credit loss was Baht 959 million, increased by Baht 768 million, or 402.09 percent, from the same period of the previous year.

As at 30 September 2022, the number of branches was 6,547 increased by 748 branches, from the end of the year 2021.