GUNKUL’s Sales of Electricity Soars, Turning 1Q19 to Book ฿225M. of Profit

Gunkul Engineering Public Company Limited (GUNKUL) has reported its 1Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

GUNKUL recorded a net profit in the first quarter of 2019 at THB 224.89 million, compared with the same period of last year showing net loss of THB 108.36 million. The increase was due to the revenue from the sale of electricity and the price increase for the purchase of electricity at the amount of THB 850.35 million, compared with the same period of the previous year at THB 384.05 million, an increase of THB 466.30 million or 121.42%.

The significant increase in revenue was due to the sale of electricity from all 3 wind turbine power plants, totaling 170 MW, which increased when compared to the same period of the previous year, which sold only 60 MW, including commercial electricity sales from Sendai Solar Power Plant in Japan, size 38.1 MW.