INTUCH Records 5.6% Decline in 1Q20 Profit after Booking Lower Revenue Share from ADVANC

Intouch Holdings Public Company Limited (INTUCH) has reported its 1Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

INTUCH reported a slight decline of net profit in 1Q20 to record at 2,740 million baht, decreased 5.64% from a net profit of 2,904 million baht in 1Q19 due to an 8.4% drop in profit contribution from AIS to 2,744 million baht. Meanwhile, THAICOM reported an improvement in net profit to 82 million baht, from a net loss of 14 million baht last year.

AIS reported a net profit of 7,004 million baht in 1Q20 (excluding the impact from TFRS 16), a decrease of 7.5% YoY. Mobile service revenue dropped 1.1% YoY, which was partially offset by revenue growth of 27% in fixed-broadband and 3.5% in the enterprise segment. The drop in mobile service revenue was mainly due to intense competition in the prepaid market, along with a lower distribution of traveler SIM cards due to the COVID-19 pandemic.