Osotspa Records 160% Profit Growth in 3Q23 with Higher GPM and One-Time Gain

Osotspa Public Company Limited (SET: OSP) has announced its 3Q23 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 3Q23 3Q22
Net Profit (Loss)
Million Baht
642.13 243.85
Earning Per Share
0.2100 0.0800
% Change 163.33
9 Months 2023 2022
Net Profit (Loss)
Million Baht
1,969.41 1,597.21
Earning Per Share (Baht) 0.66 0.53
% Change 23.30

OSP reported a net profit of THB 642 million, increased by 163.3% YoY and 17.0% QoQ. The growth was supported by continued recovery of domestic businesses, including both energy drinks and personal care segments, and margin expansion from downward trend of commodity and energy costs, manufacturing efficiency improvement, and our effort to control selling and distribution expenses, which helped to offset seasonally low sales of international businesses. 3Q23 net profit margin recorded at 10.2%, +630 bps YoY and +200 bps QoQ.

During the quarter, OSP recorded extraordinary items from strategic business restructuring activities in order to expand the core business. Other income in 3Q23 was THB 118 million, increased 120% from THB 53 million in 3Q22.