SET-listed Gulf Energy Development recorded a core profit of 3.25 billion baht in the first quarter of 2022, a rise of 36% from the previous year.
The company's total first-quarter revenue tallied 22.4 billion baht, an increase of 125% year-on-year.
According to the firm, the growth came from the first and second units of its subsidiary Gulf SRC Co (GSRC), together with higher profit from the Borkum Riffgrund 2 (BKR2) offshore wind power project in Germany -- despite the German government's curtailment -- as well as profit from shares of InTouch Holdings Plc worth 1.1 billion baht.