PSTC’s Net Profit Leaps over 900% to ฿53Mn

Power Solution Technologies Public Company Limited (PSTC) has announced its 1Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;

For the first quarter of year 2021, PSTC had net income in the amount of 53.18 million baht increased from the same period of the previous year in the amount of 47.98 million baht or 922.99% which had been changed more than 20%.

 

Total revenues for the first quarter of year 2021 was 675.55 million baht increased from the same period of the previous year in the amount of 92.22 million baht or 15.81%.

 

Decreasing revenue from sales and services of 243.89 million baht, due to the Coronavirus disease 2019 pandemic affecting the slowdown of the domestic economy and impact to business as follows: 1) The State Enterprise projects of power and energy management business have been postponed. 2) The decrease in gas consumption in the transportation sector of petroleum distribution business the reduction of LPG retail prices in accordance with the announcement of the Energy Policy Administration Committee (GPF)

 

Increasing revenue of the Oil Tank Construction in the amount of 305.12 million baht. Increase in other revenue of 36.57 million baht came from gain of selling investment and the assets of the company.

 

Meanwhile, cost of sales and services for the first quarter of year 2021 was 145.83 million baht decreased from the same period of previous year by 225.13 million baht or 60.69%, as a result of the decreasing revenue of sales and service.