Bangchak Corporation Public Company Limited (SET: BCP) has announced 3Q24 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 3Q24 | 3Q23 |
| Net Profit (Loss)
Million Baht |
-2,093.01 | 11,011.04 |
| Earning Per Share
(Baht) |
-1.6100 | 7.9100 |
| 9 Months | 2024 | 2023 |
| Net Profit (Loss)
Million Baht |
2,167.51 | 14,210.09 |
| Earning Per Share (Baht) | 1.3000 | 10.0900 |
| % Change | -84.75 | |
BCP reported a net loss in 3Q24 of THB 2.09 million, a contrast to a net profit of THB 11 million in the same period of the previous year.
Meanwhile, the operating results for the nine months ended 30 September 2024, the company reported a net profit according to the consolidated financial statements of THB 2.17 million, a decrease of THB 12.04 million or 84.75% compared to the same period of the previous year.
The decline in net profit in the third quarter was largely due to a decline in crude oil and product prices as the global economy slows down hammering demand. This resulted in lower operating GRM and an Inventory Loss (including NRV) of THB 5,120 million, or US$6.13/BBL. Nonetheless, THB 1,648 million in gains from crude oil and foreign exchange derivatives partially offset the weaker performance.
Additionally, total revenue from sales and services amounted to THB 154,193 million (+63%), primarily driven by higher revenue contributions from Refinery and Oil Trading Business Group and Marketing Business Group thanks to the full quarter performance recognition of BSRC.
