ITD Gains 16% after a Recovery in 1Q21 Earnings to Book ฿247Mn of Net Profit
ITD rose more than 16% in the morning session after the company reported a better performance in 1Q21 in booking 247 million baht of net profit.
The share price of Italian-Thai Development Public Company Limited (ITD) jumped ฿0.29/share or 16.76% to ฿2.02/share with a trading value of 1,258 million baht as of 11:47 local time in Thailand on May 18, 2021.
The rise in share price might be due to the 1Q21 earnings of ITD that turned to book a net profit of 247 million baht, compared to a net loss of 330 million baht in the same period of last year.
In 1Q21, revenues from construction work, sales and services were 15,070 million baht, representing an increase of 498 million baht from the same period of last year, mainly from the increase of revenue from overseas subsidiaries and joint ventures as well as from the progress of local projects.
Meanwhile, the company had a gain on exchange rate of 163 million baht, an increase of 215 million baht compared to 1Q20.