RATCH profit plunges 69%

Ratchaburi Electricity Generating Holding Plc saw its third quarter net profit plunge 68.77 per cent to Bt560.7 million from Bt1.79 billion last year on a plant shutdown and higher quarterly expenses.

Its nine-month net profit also dropped from Bt5.2 billion to Bt4.7 billion.

In the filing to the Stock Exchange of Thailand, the power company attributed the quarterly profit drop to the shutdown of its power plant Unit 1 and the combined cycle power plant Block 2 for major overhual, scheduled every six years.

Meanwhile, it also witnessed an increase in the administrative expenses. The expenses in the quarter totalled Bt201.57 million, up Bt76 million or 60.83 per cent year on year. The increase was attributable to consulting expenses and project development expenses which increased by Bt69.23 million from the same period of the year 2006.

"These were the expenses for investing in foreign projects and joining the Independent Power Producer (IPP) Bidding on October 19, 2007," the company said in the filing.

- The Nation

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RATCH profit plunges 69%

Ratchaburi Electricity Generating Holding Plc saw its third quarter net profit plunge 68.77 per cent to Bt560.7 million from Bt1.79 billion last year on a plant shutdown and higher quarterly expenses.

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