Global Power Synergy net profit falls over 50% in Q3

This was linked to the higher fuel prices. 

Global Power Synergy Public Company (GPSC) reported its net profit dropped by 52% in the third quarter due to the continuous increase in fuel prices. 

This is despite the increase in Ft charge in September to 94.43 Satang per unit from 24.77 Satang per unit, which drove the quarter’s revenues up by 22% year-on-year to THB33.866b.

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GPSC also reported the amount of electricity sold to the Electricity Generating Authority of Thailand (EGAT) and steam sold to industrial customers increased. 

The Company also recognized higher share of profit from Xayaburi Hydro Power Plant, thanks to the higher water level.