JMT Network Services Public Company Limited (SET: JMT) has announced its 1Q23 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 1Q23 | 1Q22 |
| Net Profit (Loss) Million Baht |
453.07 | 366.96 |
| Earning Per Share (Baht) |
0.31 | 0.27 |
| % Change | 23.5 | |
In 1Q23, JMT had a net profit of 453.1 million baht, an increase of 81.6 million baht, or 23.5% from 367.0 million baht in 1Q22 and the net profit margin stood at 39.4% or 5.4% growth from the same quarter of last year, due to the good management of the collection of non-performing debt portfolios and there is no claim for COVID insurance (one-time item in 2022) of a subsidiary operating insurance business and receive Share of profit from investments in associates, JK Asset Management Company amount 133.7 million baht.
The Company’s cash flow from cash collection including JK asset company was 1,944 million baht, an increase of 33% from 1Q22 and an increase of 11% when compared to Q4/2022. This was in line with the Company’s cash collection target.
Acquiring distressed debt equals 1,392 million Baht (excluding JK AMC). Most of acquiring distressed debt purchased in 1Q23 was unsecured bad debt.
The Company’s total revenue for the first quarter of 2023 was 1,149.7 million baht, which was an increase 6.6% from the first quarter of 2022.
