Revenues from Sales of Electricity and Construction Push GUNKUL’s 1Q21 Earnings Up 38%
An increase in sales of electricity and revenue from construction and service pushed GUNKUL's 1Q21 earnings higher by 38%.
Gunkul Engineering Public Company Limited (GUNKUL) has announced its 1Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;
GUNKUL reported a net profit of 608 million baht in 1Q21, increased 38.60% from a net profit of 439 million baht in 1Q20.
In 1Q21, the company had total revenue shown in the consolidated financial statements amounting to 2,323.11 million baht, an increase of 549.56 million baht or 30.99% increase, compared to the same period of previous year at 1,773.55 million baht.
Revenue from sale of electricity and adder in the purchase price of electricity for the year ended 31 March 2021 in the consolidated financial statements presented at the amount of 1,112.58 million baht, compared to the same period of the previous year at 936.17 million baht, an increase of 176.41 million baht or 18.84%.
Revenue from construction and services for the year ended 31st March 2021 in the consolidated financial statements presented at the amount of 454.39 million baht, compared to the same period of the previous year at 260.63 million baht, an increase of 193.76 million baht or 74.34% increase.
This is due to the recognition of income arising from entering into construction contracts for government agencies and private sectors by bidding for construction works through a subsidiary in the group (Future Electrical Control Company Limited: FEC), including the construction of power stations, electrical system work, construction of transmission lines on the ground and underground, which are in accordance with the company’s plan.