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PTG Energy Q4 profit climbs 91.9% YOY

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PTG Energy Q4 profit climbs 91.9% YOY

PTG Energy Public Company Ltd said its normalized net income for the fourth quarter was 11 satang per share, an increase of 91.9% from 6 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 186.5 million baht, a gain of 91.9% from 97.2 million baht in the year-earlier period.

The normalized profit margin climbed to 1.4% from 0.6% in the year-earlier period.

Total revenue fell 13.0% year over year to 13.15 billion baht from 15.11 billion baht, and total operating expenses decreased 14.1% on an annual basis to 12.86 billion baht from 14.98 billion baht.

Reported net income increased 88.7% year over year to 248.7 million baht, or 15 satang per share, from 131.8 million baht, or 8 satang per share.

For the year, the company's normalized net income totaled 30 satang per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 32 satang.

EPS rose 32.7% from 23 satang in the prior year.

Normalized net income was 506.2 million baht, a rise of 32.7% from 381.4 million baht in the prior year.

Full-year total revenue decreased year over year to 53.68 billion baht from 55.12 billion baht, and total operating expenses declined year over year to 52.97 billion baht from 54.61 billion baht.

The company said reported net income grew 33.7% on an annual basis to 650.7 million baht, or 39 satang per share, in the full year, from 486.8 million baht, or 29 satang per share.

As of Feb. 25, US$1 was equivalent to 35.66 baht.