JR Records a Soaring 421% of 1Q21 Earnings at ฿54Mn from Surging Revenue

J.R.W. Utility Public Company Limited (JR) has announced its 1Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;

JR reported a net profit of 54.81 million baht, increased 421.92% compared to a net profit of 10.50 million baht in 1Q20. The increase was mainly contributed by the surge of JR’s revenue by 159.37%. The leaping growth was after the company undertook a mega project -transformation of overhead line to underground line along the project route of Yellow Line and Pink Line and such figures correlated to the increased gross profit margin.

 

For the first quarter of 2021, the company recorded revenue from sales of 25.70 million baht, an increase from the same period last year at 25.70 million baht. Accordingly, sales revenue depends on customers’ budgets and demand at a particular time.

For the first quarter of 2021, the company generated revenue from service business 489.49 million baht, representing 95.02 percent of sales and service revenue. Revenue from turnkey system installation service is increased compared to the same period of the previous year at 290.86 million baht or 146.43% growth contributed by revenue recognition from the transformation of overhead line to underground line along the Pink and Yellow Line-the mega project with high value.

 

During the first quarter of 2021, JR’s cost of sales and services was 429.66 million baht or a 16.60% gross profit margin.