Sri Trang Agro-Industry net profit up 17.7% QoQ in Q3

Year-on-year, the company narrowed its net loss.

Sri Trang Agro-Industry reported a net profit of $20m (THB517.3m) in Q3 2024, decreasing by 17.7% quarter-on-quarter (QoQ) but improving from a net loss of $15.8m (THB410.2m) in Q3 2023.

Total revenue from products and services rose 22.5% QoQ and 87.3% year-on-year (YoY) to $1.2b (THB31.6b) due to higher revenue from natural rubber (NR).

Gross profit for the period reached $128m (THB3.3b), up 4.7% QoQ and 122.5% YoY.

Revenue from NR, which makes up 79.7% of the total revenue, grew 25.3% QoQ and 106.1% YoY. to $9.7b (THB25.2b)

Meanwhile, revenue from technically specified rubber (TSR), which makes up 73.4% of total revenue, rose by 24.4% QoQ and 110.0% YoY, whilst revenue from ribbed smoked sheet (RSS) accounted for 5.8% of total revenue and grew by 30.6% QoQ and 62.2% YoY.

In addition, revenue from concentrated latex (LTX) accounted for 0.5% of total revenue and rose by 209.5% QoQ and 243.4% YoY.