TASCO Posts a Net Loss of ฿784mn following a Decline in Sale Volume amid Covid-19

Tipco Asphalt Public Company Limited (TASCO) has reported its 1Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

TASCO reported a net loss of 784 million baht in 1Q20, decreased 209.2% when compared to a net profit of 718 million baht in 1Q19 mainly due to a decline in sales and services of 27.9% and gain on foreign exchange dropped to 20 million baht from 109 million baht in 1Q19 as a depreciation of baht against US dollar.

 

Sales and services decreased mainly attributable to the decrease in sale volume during 1st quarter of 2020 in several international markets which were under lockdown for the covid-19 and the delay of the fiscal year 2020 government budget approval for the Thai domestic market. In addition, the selling price also decreased significantly attributable to the global oil market price plunged in this quarter