Thaicom Public Company Limited (SET: THCOM) has announced its 1Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 1Q22 | 1Q21 |
| Net Profit (Loss) Million Baht |
50.60 | 111.42 |
| Earning Per Share (Baht) | 0.05 | 0.10 |
| % Change | -54.6 | |
THCOM reported net profit for 1Q22 of THB51 million, declined 54.6% from THB111 million for 1Q21. This resulted from the decline of both share of profit of investment in joint ventures and gain from foreign exchange. However, when compared to 4Q21, the profit improved from THB(72) million due to the effective cost control for both marketing and administrative expenses, debt collection of long-outstanding account receivable from foreign customers, together with the improvement of share of loss from of investment in joint ventures and loss from foreign exchange.
Consolidated revenue from sales of goods and rendering of services for 1Q22 was THB691 million, decreased 12.4% from THB788 million for 1Q21 and 13.0% from THB794 million for 4Q21. This resulted from the decrease of revenue from satellite and related services, mainly from the decreased utilization of domestic broadcast customers. For broadband services, the revenue declined compared with that of 1Q21 from the decrease of usage from foreign customers, but it was maintained compared with that of 4Q21.
Cost of sales of goods and rendering of services for 1Q22 of THB349 million, decreased by 46.2% compared to THB649 million for 1Q21,resulting from drop of revenue, concession fee to MDE after the expiry of the Concession, and cost of satellite depreciation. In comparison with 4Q21, cost of sales of goods and rendering of services declined 11.4% from THB394 million in accordance with the decrease of revenue from sales of goods and rendering of services.
