Ch. Karnchang PCL (SET: CK) reported its Q3 financial result on 14 November with the details as follows.
| Quarter | 3Q23 | 3Q22 |
| Net Profit (Loss)
Million Baht |
641.04 | 571.36 |
| Earning Per Share
(Baht) |
0.3780 | 0.3450 |
| % Change | 12.20 | |
| 9 Months | 2023 | 2022 |
| Net Profit (Loss)
Million Baht |
1,344.67 | 992.33 |
| Earning Per Share (Baht) | 0.7990 | 0.5990 |
| % Change | 35.51 | |
In Q3 of 2023, CK net profit was THB 641 million, a 12.2% YoY increase from the 127% YoY growth on revenue of THB 9,364 million. This is due to CK and its subsidiaries having income from the ongoing and new project of construction revenue, which are mostly hydro and railway infrastructures as follows.
- The Water Transmission Tunnels Bangmod-Samrong
- The Bang Ban – Bang Sai Flood Drainage Canal and Appurtenant Structures
- The Railway Project, Den Chai-Chiang Rai-Chiang Khong, Contract 2: Ngao-Chiang Rai Section and the Railway Project, Den Chai-Chiang Rai-Chiang Khong and Contract 3: Chiang RaiChiang Khong Section
- The MRT Purple Line: Tao Poon – Rat Burana Section
- The Luang Prabang Hydroelectric Power Project.
CK also received share of profit from investments in associates of THB 595 million, a 19% decrease mainly from CK Power PCL recognised in share loss from investments in XPCL, which was driven by lower electricity sales volume and higher finance cost following the rising global interest rates.
Meanwhile, the company saw an increase in share of profit from Bangkok Expressway and Metro PCL (SET: BEM) rose by share of profit due to the continuous rise in traffic and ridership volumes, resulting in an increase in revenue which related to an improvement of the economy.
However, CK total expenses also increased by 126% YoY to THB 8,799 million, from the cost of those construction services. Meanwhile, CK’s financial cost also increased by 35% YoY to THB 479 million.
CK Net-Debt-to-Equity ratio according to the company’s consolidated financial statement was 1.84 times, increased from the end of prior year which was 1.59 times. Still, the ratio did not exceed 3.00 times, which is the covenant for bank loans and debentures.
