Khon Kaen Sugar Industry Public Company Limited, or KSL, reported a net profit of 358.05 million baht for the first nine months of 2026, up 21.32% from a net profit of 295.13 million baht in the same period a year earlier, even as revenue from sales and services fell 2% to 12,125 million baht and gross profit dropped 35% to 1,071 million baht. In the third quarter of 2026, the company posted a net loss of 74.33 million baht, reversing from a net profit of 27.97 million baht in the same period a year earlier, with revenue from sales and services of 4,661 million baht, down 6%, and gross profit of 191 million baht, down 63% from 521 million baht. Its gross profit margin fell to about 4% from 11%, mainly because average sugar selling prices declined in line with world sugar prices. In the sugar and molasses business, revenue was 4,029 million baht, down 6%, as a 21% increase in sugar sales volume was offset by a 23% drop in average sugar selling prices across all channels. Revenue from electricity sales fell to 325 million baht from 374 million baht, a decline of 13%, in line with a 14% drop in electricity sales volume. The support and services business saw revenue rise to 307 million baht from 293 million baht, up 5%, on higher sales of fuel and fertiliser to farmers. Other income increased by 84 million baht, or roughly twofold from the prior-year period, driven by estimated royalty income from domestic refined sugar sales and foreign exchange gains, while finance costs fell 12% to 139 million baht.
Khon Kaen Sugar Industry PCLNine-month net profit rose 21% to 358 million baht but Q3 swung to a 74 million baht loss as gross margin fell to ~4% on lower sugar prices.
KSL's average sugar selling prices fell 23% in line with declining world sugar prices, indicating weak global sugar prices.
