BCPG Public Company Limited (SET: BCPG) and its subsidiaries announced their 9-month operating results in 2024 with total net profit of THB 1,656 million or a 29.6% increase from previous year.
Niwat Adirek, President and CEO of BCPG, disclosed that in Q3/2024, the Company’s total revenue reached THB 1,125 million, a 3.8% increase from last quarter, with major contributor from higher revenue of hydropower plants in Laos and tank terminal in Thailand, including higher share of profit from natural gas power plants in the US. The increase in revenue resulted in core profit of THB 453 million or a 356% increase from Q2/2024, which could fulfill an absence of both adder and revenue from divested solar power plants in Japan.
In Q3/2024, the Company witnessed an impact of strong appreciation of the Thai baht, resulting in loss of THB 28 million.
“In this quarter, the rapid appreciation of the Thai baht from 36.85 to 32.39 baht per US dollar affected the Company’s loss on exchange rate of THB 480 million. However, such loss only resulted from the translation of assets in foreign currency.”, said Niwat.
