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Sri Trang Gloves suffers net loss of $3.4m in Q3 on Baht appreciation
The net loss was a 122.9% decline from the previous quarter.
SGX-listed Sri Trang Gloves reported a net loss of ฿86.5m ($3.4m) in Q3 2024, impacted by the rapid appreciation of the Thai Baht (฿).
The Q3 net loss was a 122.9% decline from the previous quarter and a 282.4% drop year-on-year (YoY).
Despite the net loss in Q3, the group still achieved a net profit of ฿438.6m ($17m) in the first nine months of the year, more than double the amount in 9M 2023.
The group attributed the improvement to the increase in sales volume, which rose to 9.6 billion pieces, up 13.8% QoQ and 26.3% YoY.
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