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TV Direct swings to profit in Q1

TV Direct PCL said its normalized net income for the first quarter was 4 satang per share, compared with a loss of 2 satang per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 24.1 million baht, compared with a loss of 10.5 million baht in the prior-year period.

The normalized profit margin climbed to 2.6% from negative 1.6% in the year-earlier period.

Total revenue rose 40.8% on an annual basis to 923.3 million baht from 655.7 million baht, and total operating expenses grew 31.3% year over year to 877.8 million baht from 668.5 million baht.

Reported net income rose year over year to 35.4 million baht, or 5 satang per share, from 64,240 baht, or 0 satang per share.

As of May 12, US$1 was equivalent to 35.33 baht.