DTAC Announces an Outstanding Performance in 2Q to Record 8x Higher Profit at ฿1.7bn!
DTAC recorded an outstanding performance with profit growth of 8 times YoY to book ฿1,694 million, increased 845% from a profit of ฿179 million in 2Q18.
Total Access Communication Public Company Limited (DTAC) has announced its 2Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:
In 2Q19, DTAC recorded an outstanding performance with profit growth of 8 times more than the same period of last year to book THB 1,694.60 million, increased 845% from a profit of THB 179.29 million in 2Q18.
Its six months profit was THB 3,102.81 million, increased 107.70% from a profit of THB 1,493.86 million in 6M18.
Total revenues in 2Q19 amounted to THB 20,255 million, increasing 3.0% QoQ and 8.0% YoY, due to higher other operating revenues from CAT lease agreements and TOT 2300 MHz network rental. Service revenues excluding IC increased 1.6% QoQ, but declined 5.3% YoY to THB 15,691 million partly due to accounting adjustment implemented in 1Q19.
The increase of DTAC’s profit was due to depreciation and amortization (D&A) of costs of services in Q219 amounted to THB 3,609 million, increasing 2.7% QoQ but declining 47.4% YoY. The QoQ increase was mainly from continuing network expansion, while the YoY decline was mainly a result of concessionary assets being fully amortized after the expiry of the concession in September 2018, partly offset by amortization expenses of the 1800 MHz and 900 MHz spectrum licenses and continuing network expansion.
Moreover, Regulatory costs in 2Q19 amounted to THB 646 million, declining 3.0% QoQ and 58.9% YoY, after the end of the concession and remedy period. As a result, regulatory costs currently account for 4.3% of service revenue (excluding IC), which decreased significantly from 9.8% in 2Q18.
The Board of Directors of DTAC also approved the payment of an interim dividend from the first half of 2019 net profit at the rate of ฿1.26/share, totaling THB 2,983 million. The dividend is subject to a 20% corporate income tax. The Record Date (RD) to entitle rightful shareholders who may receive the interim dividend will be July 30, 2019. The interim dividend payment is scheduled to be made on August 9, 2019.