TRUE Reports a Net Loss of ฿298Mn in 2Q21 over FX and High Base Last Year
TRUE reported a net loss of 298 million baht due to a foreign exchange loss and a lack of one-time gain as in 2Q20.
True Corporation Public Company Limited (TRUE) has announced its 2Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;
TRUE reported a net loss of 298 million baht in 2Q21, plunged from a net profit of 1,262 million baht in 2Q20. The decrease was mainly due to loss from foreign exchange of 205 million baht in 2Q21 and a one-time gain from selling DIF units in 2Q20; excluding this, the bottom line improved 52% from the same period last year.
TRUE’s service revenue was 26,648 million baht, stabilized along with higher subscriber base of mobile, broadband and digital arms while impact from the COVID-19 pandemic continued to pressure consumers’ spending particularly in the pay TV and prepaid segments. Cost optimization remained a key focus and contributed to 8.2% YoY decline of operating expenses excluding depreciation and amortization. These drove EBITDA and operating profit up 12.5% and 35.4% YoY to 14,687 million baht and 3,620 million baht respectively.
