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Erawan Group Q1 profit climbs YOY

Erawan Group PCL said its first-quarter normalized net income amounted to 105.7 million baht, a rise from 12.8 million baht in the year-earlier period.

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

The normalized profit margin climbed to 7.3% from 1.3% in the year-earlier period.

Total revenue climbed 44.1% year over year to 1.45 billion baht from 1.01 billion baht, and total operating expenses rose 26.6% from the prior-year period to 1.17 billion baht from 924.9 million baht.

Reported net income increased on an annual basis to 139.6 million baht, or 6 satang per share, from 54,150 baht, or 0 satang per share.

As of May 12, US$1 was equivalent to 33.74 baht.