Ratch Group Public Company Limited (RATCH) has reported its 1Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:
RATCH has announced its profit in the first quarter of 2019 at THB 1,741.26 million, increasing by THB 614.68 million, or 54.6%, compared to the profit of THB 1,126.58 million of the first quarter of 2018.
Revenue from sales and rendering of services for the 1st quarter of 2019 was THB 2,058.80 million (excluded fuel costs of Baht 7,186.26 million), increased by THB 504.59 million or 32.5% from revenue from sales and rendering of services in the 1st quarter of 2018 of THB 1,554.21 million (excluding fuel costs of THB 6,539.55 million).
The main reason was the increase in revenue from sale of Ratchaburi Electricity Generating Company Limited, a subsidiary, in the amount of THB 332.79 million due to the increase in Base Availability Credit in 2019 compared to that of 2018, as specified in the Power Purchase Agreement.
Additionally, revenue from sale of RATCH-Australia Corporation Pty Ltd, a subsidiary, increased in the amount of THB 171.08 million, due to the commencement of commercial operation of Mount Emerald Wind Farm Project and Collinsville Solar Power Project on December 12, 2018 and March 21, 2019; respectively.