Advanced Info Service (AIS) has reported 138 billion baht in total revenue for the first nine months of 2023, growing 0.6% year-on-year, while net profit was 22.1 billion baht, an 18% gain. The company said the figures indicate strong growth across all its business segments. Chief executive Somchai Lertsutiwong said AIS is adapting in the midst of a difficult domestic economy, with slower than expected growth as the global economy fluctuates amid geopolitical tensions and a softer Chinese economy. The weaker Chinese economy has led to fewer tourists from the mainland visiting Thailand than was projected, he said. "For the first nine months, we consistently evolved our strategies for success. Our priorities are to develop digital infrastructure and an intelligent network to provide real-time, personalised services to customers," said Mr Somchai. "AIS recorded satisfactory growth across all business areas compared with the previous year." For the third quarter, AIS reported total revenue of 46.1 billion baht, down 0.4% year-on-year, but a 2.9% quarter-on-quarter gain. Net profit for the quarter was 8.15 billion baht, with growth at 35% year-on-year and 13% quarter-on-quarter.
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