JMT’s Quarterly Earnings Continue to Hit a New High, Reaching ฿206M in 1Q20!

JMT Network Services Public Company Limited (JMT) has reported its 1Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

In 1Q20 JMT’s net profit was recorded at 206.8 million baht, an increase of 62.3 million baht or 43.1% growth from the same quarter of last year, which is the company’s highest quarterly net profit statistics continuously.

JMT’s total revenue for the first quarter of 2020 was 764.4 million baht, which was an increase of 38.4% from the same period last year. The reasons for an increasing of revenues are as follows;

1) Interest income and dividend and gain on loans receivable from purchase of accounts receivable from the business of purchasing non-performing loans to manage in the first quarter of 2020, a total of 595.6 million baht, an increase from the first quarter of 2019 equal to 170.9 million baht or 40.2% due to the increase in profit from loans from the purchase of receivables (income from non-performing loans that have been fully amortized the investment value) which increased to 144.5 million baht.

2) Income from debt collection services and other income was 97.1million baht or increase from the same period last year of 7.9 %.

3) Insurance income in the first quarter of 2020 was 71.4 million baht due to the income from the insurance business of JP Insurance Company Limited, a subsidiary company. As a result of the increased insurance portfolio in the first quarter of 2020 especially insurance income from non-motor insurance.

JMT’s gross profit for the first quarter of 2020 equal to 488.3million baht or represent gross profit margin at 63.9%, increases from the same period last year. Which is a result of the increased income from the purchase of non-performing loans to manage which is a portion with good gross margin.