RATCH Reports Flat Growth in 2Q23 at THB2.1 Billion, Buoy by Interest Income and One-Time Gain

Ratch Group Public Company Limited (SET: RATCH) has announced its 2Q23 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 2Q23 2Q22
Net Profit (Loss)
Million Baht
2,124.85 2,196.10
Earning Per Share
0.9800 1.2000
% Change -3.24
6 Months 2023 2022
Net Profit (Loss)
Million Baht
3,572.52 3,775.45
Earning Per Share (Baht) 1.6400 2.0600
% Change -5.38

RATCH reported a net profit of THB 2,125 million in 2Q23, slightly decreasing by 3.24% from the same period of last year.

Revenue during the quarter was recorded at THB 13,133 million, decreased 29% from last year. Mainly due to a decrease of RG Power Plant’s revenue from sales decreased QoQ and YoY. The main reason was the lower electricity generation than that of the previous year, corresponding to lower dispatch instruction by EGAT. While there was the planned shutdown (Minor Inspection) of the combined cycle power plant (unit 3) during 3-29 June, 2023.

However, other income including interest income and the compensation from LG2 power plant received (Liquidate Damage) from the contractor in the amount of AUD 9.8 million helped offset some of the weak performance segment.