BGRIM posts 51.6% increase in net profit for first quarter

B.Grimm Power Plc (BGRIM) reported a 51.6% increase in net profit for the first quarter this year, while advancing industrial user expansion and near-ing commercial operation dates for its renewable energy projects.

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Net profit jumped by 51.6% to 749 million baht, while earnings before interest, taxes, depreciation and amortisation (Ebitda) rose 2.6% to 3.72 billion baht year-on-year.

Harald Link, group president of BGRIM, attributed the strong first-quarter performance to the parent firm's sharp improvement in net profit from 379 million baht to 654 million baht year-on-year, thanks to the consolidation of Malacha's performance after its 100% acquisition in May 2024; an 8.8% increase in steam sales volume to industrial users in Thailand; a greater share of profits from associates and joint ventures; and a decrease in natural gas prices and realised gains from foreign exchange.