Thai Airways International net profit down 28.5% in Q3

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Thai Airways International has reported a third quarter net profit of baht (Bt) 1.75 billion ($57 million), a decrease of 28.5% from Bt2.45 billion in the same period the year before.

For the quarter ended 30 September, the company's total revenue increased by 4.9% to Bt52.4 billion from Bt50 billion a year ago.

The carrier's total expenses were at Bt50.5 billion, up by 6.7% from last year, while the cost of fuel and oil fell by 4.4% to Bt19.1 billion.

Its earnings before interest, tax, depreciation, amortisation and restructuring rose by 25.7% to Bt8.62 billion.

For the first nine months of fiscal year 2012, Thai swung to a net profit of Bt3.87 billion from a net loss of Bt4.81 billion in the same period last year.

Revenue for the period amounted to Bt155 billion, an increase of 5.5% from Bt147 billion a year ago. Total expenses for the first nine months decreased by 0.77% to Bt151 billion. Fuel and oil cost rose by 5.5% to Bt59.1 billion.

The company's cash and cash equivalents as of 30 September amounted to Bt18.2 billion.