Chayo Group Pcl. (CHAYO) reported third quarter of 2021 of THB 71.21 million baht which is an increase of 102.5% compared to the last quarter of this year. The company reported a net profit of THB 171.28 million for the period ending nine-month 2021. In terms of year-on-year third quarter earnings translates to an increase of 124.8%.
The increase in earnings is attribute to increase in gross profit due to increase in increment of interest income in loans to non-performing assets and gain on foreclosed assets of THB 53.70 million.
Cash collection from unsecured loan and income from selling collateral of secured loan around THB 229.47 million which increased from the same period last year around THB 65.31 million.
Service income stood around Baht 9.14 million which decreased from the third quarter of 2020 around Baht 3.17 million.
Interest income from lending business is reported around Baht 2.99 million which increased with the same quarter last year amounted to Baht 1.18 million or equivalent to 64.97%. Additionally, the company reported no income from sales this quarter.