TQM shows profit in Q2 exceeding the target of more than 220 million baht.
Date 13 Aug 2021 time 08:50
TQM shows profit in Q2 exceeding the target of 220 million baht, growing 35.5% YoY. Confident that this year will grow as the target set.
Dr. Anchalin Phannipa, President of TQM Corporation Public Company Limited or TQM, a leader in insurance and financial advisory services. Revealing overall operating results for the second quarter of 2021 that the company had a net profit of 220.6 million baht, an increase of 35.5% compared to the same period last year. with total revenue of 858.3 million baht, especially service income of 835.7 million baht And there is also a growth in covid insurance revenue from renewal and growing according to market demand that this quarter has widened the awareness of covid insurance. Covid insurance premiums can be made almost 700 million baht, with the main channel still being an online channel. The company has a cumulative customer base of more than 2 million.
At the same time, the company is able to manage costs and control expenses effectively. Cost and service expenses accounted for 45.7% of total revenue, or decreased by 2.7% compared to the same quarter of the previous year at 48.4% of total revenue, resulting in the Company being able to maintain its gross profit margin. (Gross Profit Margin) maintained a high level of 53.1% compared to the same quarter of the previous year. while administrative expenses were at 188 million baht, accounting for 21.9% of total revenue.
Dr. Anchalin added that As for the growth trend in the second half of 2021, it is expected that sales can be closed as targeted at 25 billion baht. But insurance is still a necessity for consumers. Because when insurance occurs, it will help reduce the burden on consumers’ expenses. At the same time, consumers are increasingly aware of the importance of health insurance. This can be seen from the awakening in covid insurance, which will be a real experience that consumers can feel that insurance can help lighten the burden.
At the same time, the company continues to penetrate full-scale online insurance products with a variety of products that meet the needs of consumers in all dimensions of insurance. The company has expertise in developing insurance products to suit the lifestyle of consumers and can cover all segments in full. The company is ready to launch Innovative in purchasing home insurance soon. The work from home system has been set up to support since last year. This makes it possible to sell insurance without interruption. Including service work, it can still provide full customer service. While online channels, the company has a customer base of more than 2 million, which the company can build on from its customer base. Especially health insurance that consumers are more interested in.
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