PTT Public Company Limited (SET: PTT) has announced its 1Q23 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 1Q23 | 1Q22 |
| Net Profit (Loss) Million Baht |
27,854.84 | 24,792.47 |
| Earning Per Share (Baht) |
0.9800 | 0.8700 |
| % Change | 12.35 | |
PTT reported a net profit in 1Q2023 of Baht 27,855 million, increased by Baht 3,063 million or 12.4 % from the 1Q2022 at Baht 24,792 million. The net profit of PTT in the first quarter was higher than the consensus from Refinitiv by 5.71%.
Despite the decline in EBITDA, PTT still reported higher performance in the quarter. This was resulted from lower loss on derivatives and higher gain on foreign exchange rate in 1Q2023 in spite of higher finance costs and corporate income taxes.
Moreover, in 1Q2023, there were loss recognition of non-recurring items (PTT’s portion) after tax approximately Baht 100 million mainly from non-cash accounting transactions at the end of concession of Bongkot Project of PTT Exploration and Production Public Company Limited (PTTEP) offset with the discount from production shortfall (Shortfall) of PTT. Meanwhile, in 1Q2022 there were gain recognition of non-recurring items approximately Baht 900 million mainly from Shortfall of PTT and gain on Ichinoseki Solar Power 1 GK divestment of GPSC.
