Italian-Thai Development Public Company Limited (SET: ITD) has announced its 1Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 1Q22 | 1Q21 |
| Net Profit (Loss) Million Baht |
(757.82) | 247.24 |
| Earning Per Share (Baht) |
(0.1435) | 0.0468 |
| % Change | -407 | |
In 1Q22, ITD reported a net loss of THB758 million, ,an increase of loss THB1,005 million from the same period of previous year. Gross profit was THB773 million, a decrease from the same period of previous year for which the gross profit was THB1,464 million. While the company’s gross profit margin in the first quarter of 2022 was 4.87%, a decrease from the same period of previous year for which the gross profit margin was 9.71% mainly from the loss in oversea branch and the increase of cost of services in a mining project.
In the first quarter of 2022, ITD’s revenues from construction work were THB13,737 million, an increase of THB859 million from the same period of previous year mainly from the increase of revenues from subsidiaries and joint ventures. While sales and services were THB2,132 million, a decrease of THB60 million from the same period of previous year.
Meanwhile, costs of construction work were THB13,361 million, an increase of THB1,307 million from the same period of previous year according to the in crease of the revenues from construction work and the increase of the cost of construction work in an oversea branch.
ITED’s loss on hedging instruments was THB34 million, an increase of loss THB30 million from the same period of previous year mainly from the loss on purchasing forward contracts of foreign currency to pay creditors.
