Forex loss hits Ratch hard in first quarter
Ratch Group made a net profit of Bt1.360 billion in the first quarter of this year, down 21.8 per cent from the same period of the previous year of Bt1.741 billion.
The company recognised foreign exchange losses of Bt623.03 million due to the Australian dollar weakening against the US dollar.
However, excluding the foreign exchange loss, the company’s profit in the first quarter of the year will be Bt1.983 billion, up Bt280.62 million, or 16.5 per cent, from the same period of the previous year of Bt1.703.23 billion
The company’s revenue from sales and service in the first quarter of this year was Bt2.207 billion, up Bt149 million or 7.2 per cent from the same period of the previous year of Bt2.058 billion.
The increase in revenue was due to subsidiary Hongsa Power, whose profit increased by 40 per cent, and the acquisition of Ratch Cogeneration on October 1 last year.
