THCOM Records ฿41Mn of Net Loss in 2Q21 as Income Drops from a Lack of One-Time Gain

Thaicom Public Company Limited (THCOM) has announced its 2Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;

In 2Q21, THCOM reported a net loss of 41 million baht, contrast to a net profit of 497 million baht in 2Q20. The decrease was mainly due to lower revenue, higher selling and administrative expense regarding legal fee, shared loss of investment in joint ventures, together with the recognition of the compensation income in 2Q20 in which THCOM recorded other income of 727 million baht, of which the majority was the compensation income.

THCOM recorded revenue from sales of goods and rendering of services for 2Q21 was 796 million baht, dropped by 8.9% from 873 million baht for 2Q20, regarding the lower revenue from satellite and related services from both conventional and broadband satellites.