B.Grimm Power Public Company Limited (SET: BGRIM) has announced its 1Q24 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Year | 1Q24 | 1Q23 |
| Net Profit (Loss) Million Baht |
378.65 | 400.13 |
| Earning Per Share (Baht) |
0.0300 | 0.1200 |
| % Change | -5.37 | |
BGRIM reported a net profit of THB 379 million in 1Q24, decreased 5.37% from the same period of last year. Meanwhile, normalised net profit significantly improved 28.4% y-on-y to THB 488 million in 1Q24. This can be attributed from the expanding sales volume and the declining gas cost as mentioned.
Total electricity sale volumes rose by 12.2% y-on-y to 3,743 GWh in 1Q24. However, total revenue decreased 10.1% y-o-y to THB 14,165 million in 1Q24, primarily due to declining tariffs from EGAT, industrial users (IUs) in Thailand, and steam sales. These tariff reductions are linked to the recent decline in natural gas prices.
In 1Q24, BGRIM experienced an FX loss of THB 356 million, compared to a gain of THB 67 million in 1Q23.
EBITDA margin recovered to 25.6% in 1Q24, compared to 20.8% in 1Q23.
