RATCH’s 1Q Profit Drops 22% to ฿1.3Bn after Recording a Net Loss in FX

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

RATCH reported a net profit of 1,360 million baht, decreased 380 million baht or 21.85% when compared to a net profit of 1,741 million baht in 1Q19. The decrease was due to the recognition of loss on foreign exchange amounting 623 million baht, compared to a net gain of 38 million baht in 1Q19.

However, the operating result for the 1Q20, without consideration of the effect of foreign exchange loss, showed the profit of 1,983.85 million baht, increased by THB 280.62 million from the same period of the previous year. The increase is owing to the increase in the profit of Hongsa Power Company Limited, a joint venture, in a portion of 40%.

In addition, the acquisition of RATCH Cogeneration Company Limited, RATCH’s wholly owned subsidiary, on October 1, 2019, resulted in the increase in revenue from sales and rendering of services.