Delta Electronics (Thailand) Public Company Limited (SET: DELTA) has reported a robust start to fiscal year 2026, posting record-breaking quarterly results driven by the global expansion of artificial intelligence (AI) infrastructure. The company’s net profit for the first quarter ended March 31, 2026, reached an all-time high of THB 9,081 million, representing a staggering 65.4% increase compared to the THB 5,490 million recorded in 1Q25.
Sales and service revenue climbed to THB 61,387 million, up 43.6% year-on-year. This growth was primarily fueled by datacenter-related products, which remain DELTA’s “key growth engine” as enterprises accelerate investments in AI infrastructure. While high-efficiency power management and thermal solutions saw positive momentum, the company noted that revenue from electric vehicle (EV) solutions remained soft due to a slow recovery in end-market demand.
Gross profit for the quarter surged 78.1% year-on-year to THB 19,466 million. The gross margin improved significantly to 31.7%, up from 25.6% in the previous year, supported by a favorable product mix and increased factory output. Operating profit margin also rose to 15.8%, compared to 13.3% in 1Q25, reflecting effective cost management despite rising overheads.
The strong performance comes despite a sharp rise in selling and administrative expenses, which jumped 86.9% year-on-year to THB 9,775 million. This spike was largely attributed to higher customs duties imposed by the U.S. government, increased royalty payments linked to higher production volumes, and rising freight costs. Furthermore, the company’s bottom line was impacted by a THB 1,283 million top-up tax under the OECD Pillar Two model rules.
DELTA maintains a cautiously positive outlook on the global economy. To sustain growth, the company is expanding its “smart manufacturing” investments and strengthening its R&D capabilities across Thailand and India. Earnings per share for the quarter stood at THB 0.73, up from THB 0.44 a year earlier.
