BCPG announces business performance in Q3/2023 with a 181% core profit increase
BCPG Public Company Limited and its subsidiaries announced their operating results in Q3/2023 with total revenue of THB 1,564 million, a 43.1% increase from Q2/2023 (THB 1,093 million) and a 1.3% increase from Q2/2022 (THB 1,544 million). The Company’s total net profit and core profit accounted for THB 565 million and THB 492 million or a 180.8% increase and a 169.2% increase from the last quarter respectively.
According to Niwat Adirek, President and CEO of BCPG Public Company Limited, the major contributors were 1) higher revenue from green power plants 2) full revenue recognition of oil terminal in Thailand, and 3) an increase in contribution from natural gas power plants in the US.
“In this quarter, we gained higher revenue from hydropower plants, Nam San 3A and Nam San 3B, thanks to higher rainfall in Laos. The monsoon season in Thailand and higher irradiation in Japan also enhanced the performance of wind power plant and solar power plants respectively. In addition, we could achieve full revenue recognition from an oil terminal in Thailand and secure higher contributions from natural gas power plants in the US due to two new natural gas projects, with a total production capacity of 426 MW, and an increase in electricity demand”, said Niwat.