Thaicom Plc (THCOM), the country's sole satellite service provider, has posted a 2012 net profit of 174 million baht after five consecutive years of losses.
Consolidated revenue increased by 9.7% to 7.26 billion baht last year.
Profit for its satellite operations alone was 786 million baht, an increase of 265% compared with a loss of 476 million baht in 2011.
"This is the first time in five years that we have shown a consolidated net profit," said chief executive Suphajee Suthumpun.
The company's board on Wednesday passed a resolution proposing to pay a dividend of 40 satang per share, equal to 253% of the consolidated net profit.
The dividend proposal needs approval from shareholders next month.
Ms Suphajee said Thaicom focused on turning the company around in 2011. Its efforts last year were aimed at ensuring sustainable and profitable growth for the years ahead.
Ms Suphajee attributed the sharp performance improvement to a 13.8% increase in revenue from the Thaicom 5 satellite and a 7.7% rise in iPSTAR revenue. She said its satellite operations are improving continuously, contributing up to 86% of total revenue.
"The percentage contribution to overall revenue from the satellite sector will grow rapidly when the Thaicom 6 satellite is launched this year and Thaicom 7 is launched in 2014," said Ms Suphajee.
In addition, Thaicom will no longer carry the losses from its mobile operations unit Mfone in Cambodia when a Cambodian court rules on the case this year after the company filed for insolvency.
Ms Suphajee said Thaicom recently received a licence from the National Broadcasting and Telecommunications Commission to operate the Thaicom 7 satellite and expand its footprint in China.
Thaicom's iPSTAR was ranked first in the world by Northern Sky Research in terms of market share for a high-throughput satellite with a share of 24% of the world's total utilisation.
Shares of THCOM closed yesterday on the Stock Exchange of Thailand at 25 baht, up 1.10 baht, in heavy trade worth 1.7 billion baht.