STEC Reports a Drop of 14% in Net Profit after Recognizing Lower Revenue in 3Q20

Sino-Thai Engineering and Construction Public Company Limited (STEC) has reported its 3Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

STEC reported a net profit of 234 million baht in 3Q20, decreased 13.83% compared to the same period last year. The decrease in this quarter was mainly due to its lower revenue.

The company had total revenues for the three-month period and nine-month period in 2020 amount of 8,626.15 million baht and 27,089.55 million baht, compared to the same periods of the previous year, the total revenue was 9,090.88 million baht and 24,058.16 million baht respectively, decreased by 464.73 million baht or 5.11% for the three-month period and increased by 3,031.39 million baht or 12.60% for the nine-month period.