Ngern Tid Lor Public Company Limited (SET: TIDLOR) has announced its 3Q24 consolidated financial statement through the Stock Exchange of Thailand as follows:
| Quarter | 3Q24 | 3Q23 |
| Net Profit (Loss) Million Baht |
990.55 | 1,006.84 |
| Earning Per Share (Baht) |
0.3400 | 0.3600 |
| % Change | -1.62 | |
| 9 Months | 9M24 | 9M23 |
| Net Profit (Loss) Million Baht |
3,186.02 | 2,889.19 |
| Earning Per Share (Baht) | 1.11 | 1.08 |
| % Change | 10.27 | |
TIDLOR reported a net profit of Baht 990.6 million, a 1.6% decrease (YoY). This decrease primarily resulted from a rise in credit losses, following a proactive risk management strategy and comprehensive provisioning. In addition,credit cost was still within control. Meanwhile, profit before credit loss rose 15.66% YoY.
The Company reported a total revenue increase of 16.1% (YoY), driven by the expansion of the lending and insurance brokerage businesses, which led to an increase in interest income as well as fee and service income.
As of the end of 3Q24, the Company’s outstanding loan portfolio totaled Baht 102,699.6 million, an increase of 11.8% (YoY) and stabilized near the previous quarter’s level. This moderate growth is in line with the Company’s stringent loan approval strategy.
Meanwhile, total expenses rose by 22.3% (YoY), mainly due to higher credit losses aligned with the proactive asset quality management strategy, along with higher service and administrative expenses associated with business expansion and increased financial costs in response to elevated interest rates compared to the last three years.
The Company remains focused on asset quality, achieving the Non-Performing Loan (NPL) ratio at 1.88%, well within the target below 2%, with a slight increase from the previous quarter’s 1.86%. This increase is a result of slower-than-expected economic recovery and the deceleration in loan volume. However, the rise has been at a slower pace, supported by the Company’s cautious approval policy and proactive risk management. The NPL coverage ratio also remained solid at 230.6%.
