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Erawan Group Q3 loss narrows YOY

Erawan Group PCL said its normalized net income for the third quarter was a loss of 5.1 million baht, compared with a loss of 53.1 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 increased to negative 0.4% from negative 5.2% in the year-earlier period.

Total revenue grew 18.5% year over year to 1.22 billion baht from 1.03 billion baht, and total operating expenses rose 10.5% on an annual basis to 1.14 billion baht from 1.03 billion baht.

Reported net income totaled a loss of 19.9 million baht, or a loss of 1 satang per share, compared to a loss of 83.0 million baht, or a loss of 3 satang per share, in the prior-year period.

As of Nov. 11, US$1 was equivalent to 35.84 baht.