Unknown Executive
Good afternoon, everybody. Today, I will present the financial performance of BTSGIF for the second quarter of fiscal year 2025/’26. In the second quarter, total income of the fund was THB 1.22 billion, up 13.2% year-on-year and 11.9% Q-on-Q. Income from investment in net farebox revenue was THB 1.21 billion, up 13.5% year-on-year and 12.2% Q-on-Q. Total expenses of the fund were THB 12.8 million, decreasing 13.5% year-on-year, largely due to lower other expenses related to unitholder book closure expenses. Compared to the previous quarter, total expense increased slightly by 3.2%. Profit from net investment was THB 1.2 billion, increasing 13.5% year-on-year and 12% Q-on-Q.
In this quarter, the fund recorded loss from investment of THB 1.59 billion. This resulted largely from the decrease in the remaining period of the right in net revenue under concession agreement and the decrease in the forecast farebox revenue in the second half of fiscal year ’25/’26, but was partially offset by the decrease in the discount rate according to a decrease in risk-free rate. Discount rate decreased to 3.9% as of 30 September 2025 from 4.2% as of 30 of June 2025. Changes in net asset resulting from operation was minus THB 385 million.
Next slide is the income from investment in NRTA. In the second quarter, farebox revenue was THB 1.7 billion, decreased 2.6% year-on-year, but increased 9.3% Q-on-Q. Year-on-year decrease came from the ridership decrease of 3.1% year-on-year to 50.9 million trips due to economic slowdown and fewer weekdays, but was partially offset by fare increase of 0.6% year-on-year. Q-on-Q increase came from the ridership increase of 9.7% Q-on-Q, mainly from seasonal factors, a gradual recovery from fare sensitivity and a rebound from the impact of the earthquake in the previous
