TASCO’s Profit in 2Q Jumps 63.3% as Domestic Asphalt Sale Volume Increases Significantly

Tipco Asphalt Public Company Limited (TASCO) has reported its 2Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

TASCO reported a net profit of 1,719 million baht in 2Q20 or a 63.3% increase from a year earlier mainly from domestic asphalt sale volume increased significantly due to the delay and disbursement acceleration of the fiscal year 2020 government budget. While most regional refineries cut production during the Covid-19 crisis, the shortage of asphalt supply supported the strong recovery of asphalt selling price.  

Sales and services stood at 6,542 million baht, reflecting a decrease of 39.3% from the same period of last year. Meanwhile cost of sales and services in 2Q20 stood at 5,977 million baht.