National Telecom reports 1.3-billion baht profit as revenue edges up
Thailand’s state-owned telecommunications company National Telecom Plc (NT) exceeded its own targets and reported a net profit of 1.3 billion baht for 2022, NT president Colonel Sanphachai Huvanandana said on Friday.
The company’s estimated revenue at the end of 2022 totalled 91.5 billion baht, compared to costs of 90.2 billion.
He said the company’s operating results last year were better than in 2021 – when it was established – and exceeded the targets in its business plan.
The NT president attributed the improved results to more revenue from its digital services, larger business alliance, reduced costs, and greater corporate efficiency.
NT was established and corporatised in 2021 following the merger of state-run telecom operators CAT Telecom and TOT Plc.
Sanphachai said on Friday that most of NT’s revenue – 50.8 billion baht or 55% – came from its mobile business, 19.9 billion (22%) from fixed line and broadband and satellite business, 9.4 billion (10%) from telecom infrastructure, and 3.9 billion (4%) from digital and IDC (internet data centre) and cloud-computing business.
He said the company’s main business involves mobile networking and broadband internet, which has high investment costs and tough competition in the market.
The president said that the company was working harder to further cut costs that stem from the repetition of the separate legacy telecom networks of its two predecessors. Also, NT was restructuring the organisation in a bid to reduce its work force, particularly those redundant following the merger.
