TNL's 9-month profit for 68 grew 24.3%, driven by secured lending business.

TNL reported a 24.3% increase in profit for the first nine months of 2018, reaching 353 million baht, driven by growth in its three core businesses as planned. Meanwhile, the quality of its loan portfolio has improved, and its financial position is strengthened, ready to drive sustainable growth.

Mr. Kittichai Treeratchapong, Chief Executive Officer of Thanulux Public Company Limited (TNL), a subsidiary of Saha Group and BTS Group, revealed that in the third quarter of 2025, the company had total revenue of 333 million baht, an increase of 24.3% year-on-year, and a net profit of 158 million baht, more than double the same period last year. This was a result of the growth of its core businesses and efficient cost management.

As a result, in the first nine months of 2025, TNL had total revenue of 904 million baht, an increase of 8.8% YoY, and net profit of 353 million baht, an increase of 24.3% YoY, with the secured loan business remaining the main source of revenue, accounting for 47% of total revenue.

“The company continues to pursue a prudent growth strategy while maintaining financial discipline and strengthening liquidity through the issuance of its third debentures worth 1 billion baht, which was well-received by investors. This reflects confidence in TNL's operational potential and enhances financial flexibility to support future business expansion,” said Mr. Kittichai.

Mr. Kittichai further stated that at the end of Q3 2025, the total loan portfolio of the secured loan business (OXA) was 6,040 million baht. During the first nine months of the year, there were loan repayments of more than 1,400 million baht and new loans issued totaling nearly 1,000 million baht, resulting in a higher LTV rate.

The overall decrease was 46.9%, reflecting the strong quality of the loan portfolio. In addition, the company was able to successfully resolve non-performing loans worth over 800 million baht.

Meanwhile, the Non-Performing Asset Management (OAM) business continues to expand its portfolio. In the third quarter, OAM acquired a Corporate NPL portfolio worth a total of 809 million baht, resulting in a total legal debt of 5,161 million baht. The accumulated purchase value over the past nine months is 1,163 million baht.

Meanwhile, the real estate development business for sale (TNLA) saw increased revenue from consulting fees and interest on loans to joint ventures, while the share of losses from joint ventures decreased, following the progress of the Noble Create project, which has begun to transfer, and the Nue Riverest Ratburana project, which will begin transferring later this year.

Mr. Kittichai stated that the company is confident that its business will continue to grow for the remainder of 2568, driven by the expansion of its secured loan portfolio, growth in its asset management business, and the transfer of real estate projects, which will be key drivers of the company's revenue and profits. He added that the company will maintain financial discipline to create sustainable long-term growth.

“Furthermore, TNL continues to prioritize conducting business with good governance and transparency. On October 28, 2015, the company received a 5-star corporate governance rating (“Excellent”) for the third consecutive year from the Thai Institute of Directors Association (IOD), supported by the Stock Exchange of Thailand (SET).

"The approval from the Securities and Exchange Commission (SEC) reflects our strong business potential, good governance, transparency, and responsibility towards society, the environment, and all stakeholders. It reinforces our commitment to sustainable business operations and fosters confidence among shareholders and investors," Mr. Kittichai said.

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