THCOM Reports a 43% Drop in 1Q21 Profit with a Decrease in Sales Revenue

THCOM reported a net profit of 111 million baht in 1Q21, decreased 43.62% due to a drop in sales revenue by 18%.

Thaicom Public Company Limited (THCOM) has reported its 1Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;

THCOM reported a net profit of 111 million baht in 1Q21, decreased 43.62% compared to a net profit of 197 million baht in 1Q20 as sales revenue dropped by 18.3% for the period.

 

The company stated that revenue from sales of goods and rendering of services for 1Q21 was 788 million baht, decreased by 18.3% from 965 million baht for 1Q20,due to the decrease of revenue from satellite and related services from both conventional and broadband satellites.

 

The normalized loss from operation was at 40 million baht for the quarter, decreased from normalized profit of 58 million baht in 1Q20 due to the decrease of revenue from Thaicom 5 satellite de-orbit in February 2020.

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