THCOM Reports THB113 Million of Net Profit in 3Q23

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

Quarter 3Q23 3Q22
Net Profit (Loss)
Million Baht
113.60 120.86
Earning Per Share
0.1000 0.1100
% Change -6.01
9 Months 2023 2022
Net Profit (Loss)
Million Baht
659.77 480.73
Earning Per Share (Baht) 0.6000 0.4400
% Change 37.24

THCOM reported a net profit of Baht 113 million in 3Q23, decreased 6% compared to the same period of last year. The decrease was mainly due to a decline in revenue from sales of goods and rendering of services by 19% YoY. This was primarily attributed to the ramp-down of revenue from broadband services provided by Thaicom 4 satellite in areas that were out of the planned coverage of follow-on satellites.

Meanwhile, the company generated a core profit of Baht 18 million in 3Q23, decreased 86.8% from 3Q22 (YoY) of Baht 133 million following the decrease of revenue, and decreased 70.3% from Q2/2023 (QoQ) of Baht 60 million, due to the realized gain/loss on foreign exchange, both for the Company and its joint ventures.