บทวิเคราะห์ (Research)

GPSC : Earnings Result - FX loss, smaller equity income, revenue, hit 3Q Net profit tumbled 57% yoy and 46% qoq to Bt770m net profit in 3Q24 because of weaker revenue and equity income, and FX loss. That is in-line with our estimate. We will monitor performance at XPCL, Avaada and CFXD, especially in 4Q, and the group’s potential to secure new renewable energy projects, including developments in Direct PPAs, data center-related initiatives and green energy in 2025. Hence, we are keeping FY24F-26F earnings. We had revised several key assumptions earlier. Maintain Trading Buy (TP of Bt47).