RATCH Delivers Net Profit of THB2.25 Billion in 3Q on Increased Revenues

Ratch Group Public Company Limited (SET: RATCH) has announced its consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 3Q22 3Q21
Net Profit (Loss)
Million Baht
2,248 1,438
Earning Per Share
1.23 1.00
% Change 56.3
9 Months 2022 2021
Net Profit (Loss)
Million Baht
6,024 5,649
Earning Per Share (Baht) 3.29 3.90
% Change 6.6

In 3Q22, RATCH reported a net profit of THB 2,248 million, an increase of 56.3% from the same period last year, resulting from the increase in the EBITDA and total revenues. In contrast, the finance cost and income tax increased. The main reason was FRD recorded the one-time write-off deferred debt fees in the amount of THB 225.73 million from debt refinancing which resulted in the interest saving and loan repayment extension in the 1st quarter of 2022. In addition, FRD recorded the deferred tax expense due to tax rate change of its subsidiary in Indonesia in the amount of THB 337.70 million. These items, in the total amount of THB 563.43 million, were one-time accounting transactions which had no impact on cash flow of the Group. Also, the finance costs of FRD and SCG have been consolidated.

The total revenues for the quarter increased as the Energy Payment of RG increased due to higher electricity generated than that of the same period of the previous year. Also, the revenues of SCG and FRD have been consolidated since the acquisition in the 4th quarter of 2021. In addition, revenue from sales of RAC increased as Collector Power Plant commenced COD in June 2021. Furthermore, the electricity price increased due to the increase in demand.