SKY ICT Public Company Limited (SET: SKY) has announced its 3Q23 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 3Q23 | 3Q22 |
| Net Profit (Loss) Million Baht |
124.19 | -35.57 |
| Earning Per Share (Baht) |
0.2000 | -0.0600 |
| 9 Months | 2023 | 2022 |
| Net Profit (Loss) Million Baht |
325.31 | 129.68 |
| Earning Per Share (Baht) | 0.5200 | 0.2100 |
| % Change | 150.85 | |
SKY reported a net profit of 124 million baht in 3Q23, a significant recovery from a net loss of 35 million baht in 3Q22. The increase was a result of the service of the Advance Passenger Processing System (APPS) and Passenger Name Record (PNR) project that includes the number of passengers both inbound and outbound. International passenger service through the APPS and PNR systems has continuously increased since the COVID situation subsided during the beginning of 2023.
SKY also has recognized the income from government projects for which the company has continuously won bidding and has delivered work according to contract during 2023.
The company had total revenue for the 3-month period ended 30 September 2023 amounted to 1,080.00 million baht, an increase of 400.78 million baht or 59.01% compared to the previous year with total revenue of 679.22 million baht. Growth in revenue was attributed from all of its business segments, which included System Integration Services, Sales and Services.
The increase in gross profit margin of the Service segment from the recovery of the aviation business and tourism industry as a result, the Company has profit from the Advance Passenger Processing System (APPS) and Passenger Name Record (PNR) project. The main cost of the project is a fixed cost of depreciation. The Company recognized higher revenues with fixed costs, resulting in higher profits as well.
