THANI’s 2Q21 Earnings Drop 4% on Lower Revenue and Higher Expenses

Ratchthani Leasing Public Company Limited (THANI) announced its 2Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;

For the second quarter of 2021, the net profit of THANI reported a net profit of Baht 427.61 million. The total income amounted to Baht 1,033.71 million, financial cost amounted to Baht 227.88 million, the selling and administrative expense amounted to Baht 137.16 million, and expected credit loss amounted to Baht 139.74 million. The Total Assets amounted to Baht 49,717.09 million, the total liabilities amounted to Baht 39,006.63 million and the total equity amounted to Baht 10,710.45 million. 

As of the end of the second quarter of 2021, total assets amounted to Baht 49,565.93 million, decreased by Baht 2,885.10 million or 5.50% on a year-on-year basis. The net of total hire purchase and  financial leasing loans amounted to Baht 47,776.64 million, increased by Baht 16.28 million baht or 0.03% on a year-on-year basis, accounting for 96.39% of total assets. Total liabilities and shareholders’ equity amounted to Baht 38,927.70 million and amounted to Baht 10,638.23 million respectively. 

Comparing the financial position in the second quarter of 2021 and the first of 2021, the total assets increased by Baht 829.59 million or 1.70%. The net of total hire purchase loans increased by Baht 548.04 million or 1.16%. Total liabilities increased by Baht 1,288.05 million or 3.42% and shareholders’ equity decreased by Baht 458.46 million or 4.13%, respectively.