Chayo Group Pcl. (SET: CHAYO) has reported its 1Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 1Q22 | 1Q21 |
| Net Profit (Loss) Million Baht |
72,502 |
64,468 |
| Earning Per Share (Baht) |
0.0717 |
0.0829 |
| % Change | 12.5% | |
The net profit in the first quarter of 2022 was at Baht 72.5 million which increased from the last period around Baht 64.4 milllion (or increased around 12.5%). The main reasons for the increment mainly arose from the increment of revenue and gain on foreclosed assets.
In the first quarter of 2022, the Company had a total income of Baht 221.76 million which increase from last period around Baht 45.31 million (or increased around 25.68%). The reasons for the increment mainly arose from the increment of interest income from loan to non-performing assets around Baht 38.79 million and interest income from lending business Baht 10.46 million.
Income from loans to non-performing assets in the first quarter of 2022, the company had cash collection from unsecured loan and income from selling collateral of secured loan around Baht 71.28 million which decreased from the last period around Baht 42.84 million (or increase around 37.54%) since the company sold collateral in the first quarter of 2021. However, the company has still collection from unsecured port because the Company purchased more unsecured port to manage around end of theyear 2020.
Services income from debt collection service in the first quarter of 2022, the company had services income around Baht 7.95 million which decreased from the last period around Baht 3.84 million (or decreased around 32.53%).Thereasons why there are decreasing because not only there were suspend debt payment issued by the owner – telecommunication sector but also the owner – banking sector has assignment less than last period as the result of the limit of budgeting for Government financial institution and suspend debt payment as well. Currently, it is under process for re-new budgeting.
Interest income from lending business in the first quarter of 2022, the Company recorded interest income from lending business around Baht 12.89 million which increased with the last period around Baht 10.46 million (or increase around 430.10%). This is because in this year the Company expanding lending business more than last year. The account receivable from lending business as at 31 March 2022 and 2021 was at Baht 387.22 million and at Baht 61.47 million respectively.
The expected credit loss for the first quarter of 2022 was around Baht 41.94 million which increased from the last period around Baht 20.57 million. The main reason mainly arousefrom the increasing of unsecured port around the end of year 2020. Therefore, the Company had more expected credit loss.
