Advanced Info Service (AIS) has reported 138 billion baht in total revenue for the first nine months of 2023, growing 0.6% year-on-year, while net profit was 22.1 billion baht, an 18% gain.
The company said the figures indicate strong growth across all its business segments.
Chief executive Somchai Lertsutiwong said AIS is adapting in the midst of a difficult domestic economy, with slower than expected growth as the global economy fluctuates amid geopolitical tensions and a softer Chinese economy.
The weaker Chinese economy has led to fewer tourists from the mainland visiting Thailand than was projected, he said.
"For the first nine months, we consistently evolved our strategies for success. Our priorities are to develop digital infrastructure and an intelligent network to provide real-time, personalised services to customers," said Mr Somchai.
"AIS recorded satisfactory growth across all business areas compared with the previous year."
For the third quarter, AIS reported total revenue of 46.1 billion baht, down 0.4% year-on-year, but a 2.9% quarter-on-quarter gain.
Net profit for the quarter was 8.15 billion baht, with growth at 35% year-on-year and 13% quarter-on-quarter.
The company's mobile service revenues increased by 0.7% year-on-year to 29.3 billion baht, with 5G subscribers exceeding 8.5 million, representing 54% year-on-year growth.
Fixed broadband revenue was 3.02 billion baht, a gain of 19% year-on-year and 5.8% quarter-on-quarter.
Broadband subscribers increased by 52,000 from the previous quarter, bringing the total customer base to 2.38 million at the end of the third quarter.
AIS enterprises and its other businesses grew 20% year-on-year and 14% quarter-on-quarter.
"As a cognitive tech company, our investment budget this year was 27-30 billion baht. We aim to enhance our standards by building an intelligent network, encouraging sustainable growth in operations as a market leader in the telecom industry," said Mr Somchai.
"Our goal is to provide consumers with the greatest possible digital experience. We believe these are crucial efforts to enable a robust Thai digital economy."