Thailand’s satellite operator Thaicom, formerly known as Shin Satellite, has moved from loss into profit helped by revenues from its iPSTAR-1 and Thaicom 5 satellites.
Thaicom on May 14th said it had posted a net profit in Q1 (to March 31st) of Thai Bhat 42 million helped by a gain on foreign exchange of THB 12 million, while the company reported a loss a year ago of THB 166.4 million a year earlier. Revenues were THB 1.95 billion, up 23 per cent from THB 1.58 billion a year earlier on increased revenues from satellite services.
Satellite and satellite-based revenues totalled THB 1.51 billion, up 32.7 per cent on iPSTAR and Thaicom 5 business. However, Thaicom’s DTH segment revenues fell by 11 per cent due to intense local competition.