BANPU Reports 53% Decline in Net Profit from Lower Gas and Coal Prices

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


BANPU’s performance for 1Q2023 reported net profit at $147 million, decreased by $163 million or 53% compared to 1Q2022.This was primarily from a decrease of natural gas and coal price.

In this quarter, the group consolidated sales from the shale gas business in North Texas that was acquired since 3Q2022. Additionally, there was an increase in profit sharing recognition from joint ventures and associates, those were HPC power plant in Laos that operated efficiently, SLG power plant in China that resulted in profit in this quarter from higher sales volume and from starting power trading in the power market. 

Furthermore, the group recognized gains from remeasuring the previously held investment in battery business before business combination that the group additionally invested during this quarter. 


Sales reported at $1,312 million (equivalent to THB 44,489 million), increased by $56 million compared to 1Q2022, that derived from an increase from coal businesses $117 million, while recording a decrease from natural gas business $56 million and power and steam business and others $5 million.