TIDLOR’s 2Q21 Earnings Jump 176% amid Significant Growth in Gross Profit Margin

TIDLOR announced a 176% increase of net profit in 2Q21 as gross profit margin rose by 13.6bps

Ngern Tid Lor Public Company Limited (TIDLOR) announced its 2Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;

TIDLOR reported a net profit of 777 million baht in 2Q21, increased 176% from a net profit of 280 million baht in 2Q20. Net profit margin was 26.6%, increased from the same quarter of the previous year which was at 13.0%.

Total revenues reported at 2,918.0 million baht, increased by 35.2% from the same quarter of the previous year which was at THB 2,158.1 million. Despite COVID-19 impact, the company showed an increase in interest income on loans, mainly due to the success of “TIDLOR” card which allows customers access to cash 24 hours a day, the company continues to deliver superior services through all channels, including online, offline and mobile application services with convenience and safety amid COVID-19 outbreak.

TIDLOR stated that the company has been serving around 180,000 TIDLOR cards for customers and the utilization rate of the card was on the rise of 60% by the end of June this year.

Fee and service income increased by 59.7% from the same quarter of the previous year mainly due to the increase of life insurance fee income and non-life insurance fee income that improved continuously from expansion of insurance businesses.


Non-performing loan as of June 30, 2021 was 1.56%, decreased from 1.66% as of December 31, 2020. Despite the surging of a third wave of COVID-19 outbreak, the Company managed asset quality effectively.

Debt-to-equity ratio was 2.0 times, significantly decreased from the 3.5 times as of December 31, 2020, which was due to capital increase from being listed on the Stock Exchange of Thailand since May 2021.


As of June 30, 2021, the number of branches across all 74 provinces nationwide was 1,200, increased 124 branches, which is in line with the company’s strategy to continue expanding 500 branches within 2023.

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