Thai provincial fixed line operator TT&T has released its second-quarter financial results to the Stock Exchange of Thailand (SET). Total revenue (excluding gain from foreign exchange rate, and gain on debt restructuring) in Q2 2013 was THB544 million (USD17.36 million), down from THB600 million in Q2 2012, mainly due to weakening of voice service revenue. Operating expenses were THB508 million in April-June 2013, compared with THB829 million in the corresponding quarter of 2012; cost of sales and services declined by 50% mainly because of a drop in amortisation and depreciation due to assets impairment; selling and servicing expenses were virtually flat; administration expenses decreased by THB26 million year-on-year resulting from a drop in employee-related expenses. TT&T’s operating result (before loss from debt restructuring, financial cost, and gain or loss on foreign exchange rate) in Q2 2013 was THB32 million (operating profit), compared to THB242 million (operating loss) in Q2 2012. Financial costs of THB83 million were less than the THB91 million reported a year earlier, while the company recorded a THB364 million foreign exchange loss due to Baht depreciation. Consequently, TT&T booked a net loss of THB415 million in Q2 2013 (compared to net loss of THB536 million in Q2 2012 on foreign exchange loss of THB202 million).
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