TCAP’s Profit Drops 74% to ฿638Mn after Booking Lower Share of Profit in 3Q

Thanachart Capital Public Company Limited (TCAP) has reported its 3Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

TCAP reported a net profit of 638 million baht, decreased 74.17% compared to the same period of last year and 37.90% from the previous quarter. This was mainly due to the fact that the share of profit from associated companies declined in this quarter, as a result of the impact from COVID-19 pandemic, which caused economic contraction. Moreover, the company had 3,159 million baht of profit for the period from discontinued operations in 3Q19 as a one time gain.