BCPG announces business performance in Q3/2023

Editorial Staff

BCPG announces business performance in Q3/2023 with a 181% core profit increase

BCPG Plc and its subsidiaries announced their operating results in Q3/2023 with total revenue of 1.56 billion baht, a 43.1% increase from Q2/2023 (1.09 billion baht) and a 1.3% increase from Q2/2022 (1.54 billion baht).

Mr Niwat Adirek, president and CEO of BCPG Plc said the company’s total net profit and core profit accounted for 565 million baht and 492 million baht or a 181 % increase and a 169.2% increase from the last quarter respectively.

The major contributors were higher revenue from green power plant; full revenue recognition of oil terminal in Thailand; an increase in contribution from natural gas power plants in the US.

“In this quarter, we gained higher revenue from hydropower plants, Nam San 3A and Nam San 3B, thanks to higher rainfall in Laos. The monsoon season in Thailand and higher irradiation in Japan also enhanced the performance of wind power plant and solar power plants respectively. In addition, we could achieve full revenue recognition from an oil terminal in Thailand and secure higher contributions from natural gas power plants in the US due to two new natural gas projects, with a total production capacity of 426 MW, and an increase in electricity demand”, said Mr Niwat.