MTC Reports 21% Profit Growth in 1Q24 from Higher Interest and Income Fees

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

Year 1Q24 1Q23
Net Profit (Loss)
Million Baht
1,389.38 1,070.08
Earning Per Share
0.6600 0.5000
% Change 29.84

MTC reported a net profit of Baht 1,389 million or equivalent to a net profit margin of 20.95%. Interest and fee income from loans receivables and hire purchase receivables rose 17.7% Baht 6,353 million in 1Q24, which led to a revenue growth of 17% to Baht 6,630 million.

Finance costs rose 33% to Baht 1,130 million, while expected credit loss improved by 10% to Baht 858 million from Baht 954 million in 1Q23.