THCOM Makes a Turnaround to Book a Profit of ฿77Mn from a Decrease in Asset Impairment

Thaicom Public Company Limited (THCOM) has reported its 3Q20 consolidated financial statement through the Stock Exchange of Thailand as follows; 

THCOM reported the net profit for 3Q20 at 77 million baht, improved from the net loss of 113 million baht 3Q19. This was resulted from the decrease of depreciation from Thaicom 5 satellite de-orbit and the impairment of other satellites in 2019, together with foreign exchange gain. While compared with 2Q20, the consolidated net profit decreased from 498 million baht. The net profit for this quarter dropped since the extra item from the compensation income was recognized in 2Q20.

 

Consolidated revenue from sales of goods and rendering of services for 3Q20 was 918 million baht, a decrease of 22.7% from Baht 1,188 million for 3Q19 as the decline of revenue from satellite services and Internet and media services. For 9M20, the consolidated revenue from sales of goods and rendering of services totaled 2,756 million baht, decreased by 25.7% from Baht 3,707 million for 9M19, contributed by the decrease of both satellite services and Internet and media services.