JMT Network Services Public Company Limited (SET: JMT) has announced its 3Q23 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 3Q23 | 3Q22 |
| Net Profit (Loss) Million Baht |
466.28 | 455.53 |
| Earning Per Share (Baht) |
0.3200 | 0.3100 |
| % Change | 2.36 | |
| 9 Months | 2023 | 2022 |
| Net Profit (Loss) Million Baht |
1,470.35 | 1,255.80 |
| Earning Per Share (Baht) | 1.01 | 0.88 |
| % Change | 17.08 | |
JMT reported a net profit of 466.3 million baht, an increase of 2.4% from the same period last year, mainly due to higher interest income. While, 9-month period of 2023 the company had a net profit of 1,470.3 million baht, an increase from the same period last year of 17.1%.
The company’s total revenue for the third quarter of 2023 is 1,307.9 million baht, an increase from the same period last year of 207.1 million baht, or an increase of 18.8%. Meanwhile, the company has gross profit according to the consolidated financial statements for the third quarter of 2023, it was 916.3 million baht, an increase of 151.7 million baht or an increase of 19.8%.
In this quarter, the company recorded 937 million baht of interest income, an increase by 45% YoY.
The company’s cash flow in 3Q23 was 1,330 million baht, a 6% decrease from the same period last year. Cash collections for the 9-month period of 2023 totaled 4,260 million baht, 1.1% increase from the same period last year.
In the 9-month period of 2023, the company acquired total NPLs worth 6,302 million baht and in 3Q23 the company invested an additional 2,176 million baht in NPLs. JMT is the number one leader in the country’s distressed debt portfolio in terms of unsecured non-performing loans.
JMT stated that it still has a positive outlook on the company’s growth from the economic situation that will gradually be improved. In the fourth quarter of 2023, which is the high season of the overall economy. In the fourth quarter of 2023, the company expects that this quarter will be able to achieve the highest collection of non-performing debts in 2023. In addition, the company has prepared to raise money from issuing debentures in the fourth quarter of 2023 to support the purchase of distressed debt and future debt repayment. The company has carefully estimated its cash flow, therefore, there is no concern regarding the company’s cash flow projections.
