BTS operator reports net 2Q profit of B1.131bn
published : 15 Nov 2019 at 14:22
writer: Thodsapol Hongtong
Skytrain operator BTS Group Holdings Plc reported a net profit of 1.131 billion baht in the second quarter of 2019/20, up 36.3%.
Kavin Kanjanapas, chief executive officer of BTS Group, said on Friday that the high quarterly profit was largely attributed to the improved performance from the operation and maintenance (O&M) services for the newly opened Green Line stations and the profit generated from the media business.
BTS Group reported a net profit of 2.171 billion baht in the first half of fiscal year 2019/20.
Mr Kavin said the mass transit service was the major business of the firm that continued to generate revenue and profits to BTS Group. Mass transit revenue stood at 9.132 billion baht, or 80% of total revenue.
Most mass transit revenue came from continued recognition of construction revenue for the Pink and Yellow Lines, and the southern and northern Green Line extension of 7.531 billion baht. O&M revenue in this quarter increased by 414 million baht or 91.5% from last year to 866 million baht.
The BTS Group chief executive said mass transit prospects continued to be solid that made the company earn the high profit for this quarter.
“Mass transit prospects continue to be solid for the rest of the year and beyond, buoyed by the gradual operating of new Green Line stations and the rapid progress of the constructon of each rail mass transit line,’’ said Mr Kavin.
On Aug 9 this year, the first station of the Northern Green Line extension (N9: Ha Yaek Lat Prao station) began a trial operation. The opening of four more stations (up to N13: Kasetsart University station) is expected in December 2019. The opening of these first five stations will feed additional passengers to the network as well as to significantly strengthen O&M revenue in this fiscal year.
The full operation of this route from Mor Chit – Khu Khot (totaling 17.8km, 16 stations) is expected to begin in 2020. The Pink and Yellow lines also proceeded as plan, expected to begin operation by October 2021.