DIF Reports a Drop of 29% in 2020 Earnings from Lower Gain on Investment

Digital Telecommunications Infrastructure Fund (DIF) has reported its yearly consolidated financial statement of 2020 through the Stock Exchange of Thailand as follows;

DIF reported a net profit of 13,424 million baht in 2020, decreased 29% from a net profit of 18,910 million baht in 2019. The decrease in net profit was due to a decrease of net unrealized gain on investment, which was a non-cash accounting item, by 6,517.99 million baht (2020: 967.67 million baht, 2019: 7,485.75 million baht) from the previous year stemmed from changing in fair value of the telecom assets resulting from re-appraisal by the independent appraiser who adjusted some assumptions for valuation.