GRAMMY’s Earnings Jump over 8 Folds to ฿395Mn, Owing to a Higher Share Profit from JV

GMM Grammy Public Company Limited (GRAMMY) has announced its 1Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;

Net profit attributable to GRAMMY in the first quarter of 2021 was THB 398.2 million, an increase of 872.1% YoY from THB 41.0 million in the same quarter last year. Total operating revenue was THB 981.8 million, decreased by 24.5% YoY due to the ongoing COVID-19 pandemic which the company’s events with larger crowd gathering had been restricted and weren’t able to operate normally.

 

However, the company reported total revenues of THB 1,365.5 million, increased by 4.2% YoY from the granted right to purchase shares of Rojukiss International Public Company Limited and gain on its fair value adjustment of approximately THB 369.5 million. Average gross profit margin rose to 46.9% compared to 1Q21 at 40.0%.

 

Shared profit from investments in joint ventures and associates was THB 66.5 million increased from THB3.6 million in 1Q20, due to strong performance of the One Enterprise Company Limited.