CKP Returns to a Net Profit of ฿115Mn Due to Increased Revenue from Nam Ngum 2 PP
CKP had a net profit in 1Q21 of 115 million baht, making a turnaround from a net loss of 340 million baht in 1Q20.
CK Power Public Company Limited (CKP) has announced its 1Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;
CKP had a net profit in 1Q21 of 115 million baht, making a turnaround from a net loss of 340 million baht in 1Q20, mainly from 1) higher revenue from sales of electricity of Nam Ngum 2 hydroelectric power plant (NN2) and 2) lower share of loss from investment in XPCL, driven by higher average water flow compared to the same period last year and lower finance cost from decline in interest rates YoY and principal repayments.
Total revenue in 1Q21 increased by 19.2% YoY, primarily from 1) an increase in revenue from sales of electricity of NN2 by 101.9% YoY following higher electricity sales volume due to higher water level in the reservoir at the beginning of 2021 and higher water inflow compared to the same period last year and 2) an increase in project management income by 71.6% YoY, mainly from the recognition of project management income from Luang Prabang Hydroelectric Power Project since Q4 2020.
