Sri Trang Agro-Industry Public Company Limited (SET: STA) has announced its 3Q23 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 3Q23 | 3Q22 |
| Net Profit (Loss) Million Baht |
-410.25 | 1,155.89 |
| Earning Per Share (Baht) |
-0.2700 | 0.7500 |
| 9 Months | 2023 | 2022 |
| Net Profit (Loss) Million Baht |
-12.32 | 3,807.03 |
| Earning Per Share (Baht) |
-0.0100 | 2.4800 |
STA reported a net loss of THB 410 million in 3Q23, a contrast to a net profit of THB 1,155 million in 3Q22 with a net loss margin of -2.4%.
Total revenue from products and services in Q3/2023 came in at THB 16,882.5 million, decreasing 20.5% QoQ and 42.5% YoY mainly because the NR business recorded lower revenue.
The NR business recorded a softened performance as the supply shortage caused by El Niño led to lower sales volume and increased fixed cost per unit because of decreased economies of scale. As a result, gross profit margin of the NR business lowered to 8.0% compared with the usual 10.0-13.0%.
The glove business recorded increased profit on the back of lower raw metal costs and improved cost management. Gross profit margin of the glove business increased to 11.2% and utilization remained stable at 58.9%.
