Italian-Thai Development Public Company Limited (SET: ITD) has announced its 1Q24 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 1Q24 | 1Q23 |
| Net Profit (Loss) Million Baht |
122.41 | 309.22 |
| Earning Per Share (Baht) |
0.0232 | 0.0586 |
| % Change | -60.41 | |
ITD reported a net profit of Baht 122 million in 1Q4, a decrease by 60% from a net profit of Baht 309 million in 1Q23.
In the first quarter of 2024, the Company’s revenues from construction work were Baht 16,946 million, an increase of Baht 1,527 million from the same period of previous year mainly from an increase of revenues from construction work of an oversea subsidiary.
Meanwhile, revenues from sales and services were Baht 1,628 million, a decrease of Baht 166 million from the same period of previous year mainly from the decrease of revenues in mining projects.
Costs of construction work were Baht 15,568 million, an increase of Baht 1,752 million from the same period of previous year mainly relevant to the increase of revenues of an oversea subsidiary. Costs of sales and services were Baht 1,647 million, an increase of Baht 110 million from the same period of previous year partially because of the increase of mining costs.
Gross profit margin in the first quarter of 2024 was 7.31%, a decrease from the same period of previous year for which the gross profit margin was 10.80% partially from losses in mining project, buildings projects as well as the decrease of gross profits in oversea subsidiaries.
Additionally, interest income was Baht 293 million, an increase of Baht 257 million from the same period of previous year which resulted from interest income from dispute settlements of an oversea project.
Allowance for impairment losses were Baht 680 million, an increase of Baht 598 million from the same period of previous year mainly from the increase of allowance for impairment losses of large industrial construction works.
