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TV Direct swings to loss in Q3

TV Direct PCL said its third-quarter normalized net income was a loss of 51.6 million baht, compared with income of 2.7 million baht in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to negative 7.1% from 0.4% in the year-earlier period.

Total revenue grew 16.4% on an annual basis to 725.8 million baht from 623.4 million baht, and total operating expenses grew 27.4% from the prior-year period to 786.9 million baht from 617.8 million baht.

Reported net income came to a loss of 62.4 million baht, or a loss of 10 satang per share, compared to a loss of 3.0 million baht, or a loss of 0 satang per share, in the prior-year period.

As of Nov. 12, US$1 was equivalent to 35.85 baht.