InTouch posts profit of B11bn for 2020
Profit contribution by AIS decreases 10%
published :
11 Feb 2021 at 04:00
The Covid-19 pandemic caused the net profit of AIS to drop by 8.9% year-on-year. (Photo by Apichit Jinakul)
SET-listed InTouch Holdings posted a net profit of 11 billion baht in 2020, a drop of 35 million from a year earlier, mainly caused by a decline in profit contribution from telecom operator Advanced Info Service (AIS) as a consequence of the pandemic.
According to InTouch's financial statement reported to the Stock Exchange of Thailand (SET), AIS's profit contribution to InTouch fell 10% year-on-year to 11.1 billion baht in 2020.
"The drop resulted from the economic slowdown caused by the pandemic, increasing competition in the telecom segment, as well as a decline in tourists," said Anek Pana-apichon, chief executive of InTouch.