GULF Expects to Book THB1.6 Billion in Profit Sharing from INTUCH and THCOM in 1Q24

Gulf Energy Development Public Company Limited (SET: GULF) is expected to book 1,545 million baht of share of profit from Intouch Holdings Public Company Limited (SET: INTUCH), based on the holding of 47.37% in INTUCH that had just announced 1Q24 earnings with a net profit of 3,261 million baht.

Moreover, GULF will also book 118 million baht from Thaicom Public Company Limited (SET: THCOM), based on its holding of 41.14% in THCOM that had just announced a net profit of 288 million baht for its 1Q24 operations.


GULF is a holding company that invests in a portfolio of core businesses which can be divided into three business groups including 1) Energy business, comprising gas-fired power business and other related businesses, renewable energy business and gas business 2) Infrastructure and utilities business and 3) Digital business.

The company mainly recognized income from its gas-fired power business, which accounted for around 88% of its revenue in 2023.