Thai Wah Public Co. Ltd said its first-quarter normalized net income came to 14 satang per share, compared with the S&P Capital IQ consensus estimate of 18 satang per share.

EPS decreased 83.4% year over year from 83 satang.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 121.0 million baht, an increase of 85.1% from 65.4 million baht in the prior-year period.

The normalized profit margin climbed to 7.8% from 6.0% in the year-earlier period.

Total revenue grew 41.4% on an annual basis to 1.55 billion baht from 1.09 billion baht, and total operating expenses rose 34.1% year over year to 1.33 billion baht from 990.2 million baht.

Reported net income increased 87.7% year over year to 162.7 million baht, or 18 satang per share, from 86.7 million baht, or 1.10 baht per share.

As of May 11, US$1 was equivalent to 35.21 baht.