Sales Revenue Surge Causes GUNKUL’s 1Q Profit to Grow by 95%

Gunkul Engineering Public Company Limited (GUNKUL) has reported its 1Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

GUNKUL reported a net profit of 439.10 million baht in 1Q20, increased 95.25% when compared to a net profit of 224.89 million baht in 1Q19 mainly due to an increase of sales revenue, bargain purchase and gain on change in fair value of Derivatives.

 

Revenue from sales presented at 380.04 million baht, has increased 48.88 million baht, or 14.76% YoY, growing from the increasing expansion of various construction works of the government sector. Revenue from sale of electricity and adder in the purchase price of electricity presented at 936.17 million baht, has increased 85.82 million baht, or 10.09%, primarily driven by the revenue from commercial electricity sales in other countries totally to 93.5 megawatts since February 2020 onwards.