INSET Reports 23% Growth in 2Q21 Earnings as Revenue from Telecom and Infra Business Grow
INSET reported a 23% growth in 2Q21 earnings, mainly due to telecommunications and transportation infrastructure business.
Infraset Public Company Limited (INSET) has announced its 2Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;
INSET reported a net profit of 37.23 million baht in 2Q21, increased 23.60% from a net profit of 30.12 million baht in 2Q20. Meanwhile, the company recorded 60.07 million baht of profit for the six-month period in 2021 due to the revenue recognition from large projects with lower gross profit margins than smaller ones.
For the six-month periods ended June 30, 2020 and 2021, INSET’s revenues were 530.21 million baht and 631.33 million baht, respectively. The main revenues were from Telecommunications and Transportation Infrastructure Business, followed by the revenues from Maintenance and Service Business, and Data Center & Information Technology Infrastructure Business, respectively. The revenue ‘s proportion of each type of business to total income accounted for 79%, 17% and 4%, respectively.
