The share price of Jasmine Technology Solution Public Company Limited (SET: JTS) plunged sharply by nearly 6% at the opening bell on Wednesday after the company announced negative earnings results last night.
|Net Profit (Loss)
|Earning Per Share
JTS reported a net loss of 105 million baht in 2022, a contrast to its 221 million baht of net profit in 2021. The main reason for the decline was mainly due to bitcoin mining cost at the amount of 632.88 million baht, which increased 4,398% while the revenue obtained from cryptocurrency mining was 143.07 million baht, increased by 126.54 million baht or 765.52%.
The Board of Directors also approved the resolution to omit the dividend payout for the operation in 2022.
The share price fell from THB42.00 per share at the closing on Tuesday to THB39.50 at the opening on February 22, representing a decrease by THB2.50 or 5.95%.
Aside from its ICT solution business, the company also ventures into bitcoin mining. The share price rose to a record high of THB594 per share late April last year and has been on a decline since then following the fallout of bitcoin prices. Its share price plunged 93% from its record high.