JAS Records an Increase in 3Q Revenue to ฿4.8Bn as 3BB Subscription Expands

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

 

JAS reported an increase in revenue by 3% to 4,817 million baht, compared to the third quarter of the year 2019 in which it was recorded at 4,664 million baht and the second quarter of the year 2020 in which it was recorded at 4,833 million baht. Most of the total revenue was the contribution of Triple T Broadband Public Company Limited (TTTBB).

 

In the third quarter of the year 2020, Triple T Broadband Public Company Limited (3BB) had 80,431 net additional subscribers, resulting in its record of 3.43 million of the total subscribers at the end of the third quarter of the year 2020. Of this number, approximately 2.36 million or 69% were FTTx subscribers, increasing from 66% recorded at the end of the second quarter of 2020.

 

In the third quarter of the year 2020, JAS and its subsidiaries had the operating loss of 738 million baht. This amount, included by the adjustment of the provision for rental assurance of OFC of JASIF due to the change in the assumption of the discount rate of 80 million baht and the deferred tax of the company and its subsidiaries of 9 million baht, resulted in the record of the net loss of 649 million baht.

However, since the company and its subsidiaries recorded the FX loss of 85 million baht and the expected credit losses (allowance for doubtful debts of 3BB) of 60 million baht, the net loss for the third quarter of the year 2020 was 794 million baht, compared to the third quarter of the year 2019 in which the company and its subsidiaries recorded the net profit of 342 million baht.

The net loss of the company and its subsidiaries increased, comparing the net loss, amounting 794 million baht in the third quarter of the year 2020 to that of 414 million baht in the second quarter of the year 2020. That was because in the third quarter of the year 2020, the company and its subsidiaries recorded the FX loss of 85 million baht; whereas, in the second quarter of the year 2020, they recorded the FX gain of 193 million baht.