BANPU Plunges 6% after Reporting a Disappointed Statement in 2Q!
BANPU Plunges 6% after Reporting a Disappointed Statement in 2Q with a profit loss of 98%!
The share price of Banpu Public Company Limited (BANPU) plunged ฿0.80/share or 6.20% with a trading value of THB 478 million in the morning session on August 13, 2019. The plummet came after the report of BANPU’s 2Q19 financial statement last Friday after trading hours.
BANPU has reported its 2Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:
BANPU reported 2Q19 earnings of only THB 86 million, decreased 98% YoY and 91% QoQ. The decrease in earnings was mainly due to higher-than-expected Australian coal costs of AUD$89/ton. The plunge YoY and QoQ was mainly due to 1) Foreign exchange (FX) loss of THB 1.3 billion for the quarter, down from FX gain of THB 1.2 billion in 2Q18 and FX loss of THB 0.5 billion in 1Q19, and 2) NEX-benchmark coal price dropping a significant 17% QoQ to US$80/ton, the lowest quarterly level since 4Q16.
