NRF Reports a Soaring Profit of 183% in 3Q, Booking ฿48Mn as Revenue and GPM Increase

NR Instant Produce Public Company Limited (NRF) has reported its 3Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

NRF reported a net profit of 48.13 million baht in 3Q20, increased 183% compared to a net profit of 16.98 million baht in 3Q19. The increase was mainly due to an increase in operating

revenue of 378 million baht, increased by 71 million baht or 23.1% mainly due to the higher demand in recipe mix products, the launch of push marketing strategies, and successful introduction of plant based products.

Meanwhile, gross profit margin for the quarter was 33.1%, which increased from 29.3% in 3Q19 due to product mix adjustment to a higher proportion of sales from higher profit margin products and increased sales in Plant based Food products.