MONO recorded a Net Loss of ฿177mn in 3Q19 from Lower Revenue and High Competition

Mono Technology Public Company Limited (MONO) has reported its 3Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

MONO reported a net loss of 177 million baht, continued to plunge further from a net loss of 70 million baht in the same quarter last year.

Revenues from TV advertising decreased by 32.56 million baht or 7.85 percent compared to the same quarter of the previous year. When compared to the second quarter of the same year, revenues decreased by 123.40 million baht or 24.40 percent. This was due to the intense business competition in the third quarter which resulted from the fast growing of the top 5 TV channel ratings as well as the promotions to attract advertising revenues during that period.

Revenues from mobile value-added services in the third quarter was 18.62 million baht, decreasing by 20.37 million baht or 52.24 percent compared to the same quarter of the previous year. Nevertheless, revenues tend to steady compared to the second quarter of the same year. As for Monomax subscription, the business tends to show a better growth with an increasing revenue of 3.62 million baht or 30.65 percent compared to the previous quarter of the same year.

Revenues from sponsorships increased by 34.74 million baht or 228.85 percent compared to the same quarter of the previous year and increased by 19.08 million baht or 61.87 percent compared to the second quarter of the same year.