Banpu Power Public Company Limited (SET: BPP) has announced its 3Q24 consolidated financial statement through the Stock Exchange of Thailand as follows:
| Quarter | 3Q24 | 3Q23 |
| Net Profit (Loss) Million Baht |
1,133.98 | 2,098.70 |
| Earning Per Share (Baht) |
0.3720 | 0.6890 |
| % Change | -45.97 | |
| 9 Months | 2024 | 2023 |
| Net Profit (Loss) Million Baht |
2,792.88 | 5,550.60 |
| Earning Per Share (Baht) | 0.9160 | 1.8210 |
| % Change | -49.68 | |
BPP reported a net profit of THB 1,134 million in 3Q24, decreased by THB 965 million or 46% compared to the same quarter of the previous year. The decrease was primarily due to lower performance from its gas-fired power plants in the USA, where both adverse weather and mild temperatures impact results this quarter, leading to outcomes below expectations.
Additionally, profit contributions from the Shanxi Lu Guang (SLG) plant decreased, also affected by lower sales impacted by the weather. A THB 1,093 million foreign exchange loss driven by the appreciation of the THB currency also impacted results.
However, CHP plants in China delivered stronger results, benefiting from lower coal costs, and an increase in profit sharing from BLCP, HPC, Nakoso power plants, and renewable energy business from better operation. Furthermore, there was an unrealized gain on fair value of financial derivatives in this quarter.
Meanwhile, sales reported at THB 6,882 million, decreased by THB 10,408 million or 60% compared to 3Q2023, resulting from a decrease in power sales from a gas-fired power plant in USA of THB 10,329 million, and a decrease in power sales from CHP plants in China THB 79 million.
