RT Q2 68 profit 13 million baht, accelerate closing of short-term projects, enhance liquidity, recognize revenue quickly

RT reported total revenue of 2 million baht in Q68 863, with a net profit of 13 million baht. The company's business direction for the second half of the year includes a plan to increase efficiency, strictly control costs, and accelerate project completion. Nine projects, worth over 9 billion baht, are completed and bidding on projects to fill the backlog and generate consistent revenue.

15 August 2568 Mr. Chawalit Thanomthin, Chief Executive Officer of Right Tunneling Public Company Limited or RT. A specialist in tunneling, civil engineering and comprehensive geotechnical engineering revealed that In Q2 2568, the company reported total revenue of 863 million baht, a decrease from the same period last year, which had total revenue of 874 million baht, and a net profit of 13 million baht, an increase from the same period last year, which had a net profit of 10 million baht.

The company's revenue increased by 1 million baht, or 2568%, compared to the first quarter of 700, which saw total revenue of 164 million baht. The company also saw a net profit reversal from a net loss of 23 million baht, due to the gradual recognition of revenue from a backlog of 102 projects.

For the first half of 2568, the company reported total revenue of 1,563 billion baht, a decrease from 1,852 billion baht in the same period last year. This decrease was primarily due to the impact of natural disasters in various areas, which resulted in some projects having to extend their construction periods and significantly increased project costs.

For business direction in the second half of 2568 The company is moving forward with its plan to increase operational efficiency, control costs, and enhance profitability to support future projects. The company also focuses on short-term projects to enhance liquidity and enhance growth potential through accelerated project delivery and continued revenue recognition.

This year, the company delivered a total of 9 projects, worth a total of more than 1,640 million baht. such as

• Construction of manholes and underground electrical conduits for the Yellow Line electric train project
• Construction of the Bang Pakong Power Plant raw water storage pond, including slope protection work

And there are 4 projects that are nearing completion. such as

• The Sri Song Rak Floodgate construction project in Loei Province is 98% complete.
• The Khlong Phlo Reservoir Project in Rayong Province is 87% complete.
• The construction project for the underground manhole and electrical conduit at the Khlong Krathiam Substation in Min Buri District is 89% complete.
• The construction project for underground manholes and electrical conduits, a local highway project connecting Vibhavadi Rangsit Road and Phahon Yothin Road, is 74% complete.

"Although the company faced natural disasters and increased costs in the first half of the year, we believe the planned strategies will enhance operational efficiency and control costs, resulting in better performance in the second half of the year. Furthermore, the company is closely monitoring the progress of projects expected to be bid on this year to replenish the backlog and generate consistent revenue," said Mr. Chavalit.

Read all interesting business news here.