EGCO Marks a Turnaround in 3Q23 Earnings with THB2.37 Billion from Lower Loss in FX

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

Quarter 3Q23 3Q22
Net Profit (Loss)
Million Baht
2,372.59 -392.47
Earning Per Share
4.5100 -0.7500
9 Months 2023 2022
Net Profit (Loss)
Million Baht
5,854.65 2,946.45
Earning Per Share (Baht) -0.01 2.48
% Change 98.70

EGCO reported a net profit of THB 2,373 million in 3Q23, increased by 704% or THB 2,766 million, compared to Q3/2022, mainly due to recognized a lower unrealized foreign exchange loss as a result of the lower Baht depreciation.

IPP’s operating profit for Q3/23 YoY increased by 116% or THB 128 million, mainly due to lower weighted average fuel cost and financial costs. 

Loss from foreign exchange in the quarter was THB 979 million, which was better than nearly THB 4,000 million in the same period of last year.