The Q2/2026 earnings season for Thai listed companies (LCs) has concluded with strong momentum, revealing that most Thai LCs continued to grow profits despite ongoing global economic uncertainties.
Notably, the energy and petrochemical sectors stood out clearly, as rising crude oil prices continuously supported refining and petrochemical businesses to return to profitability after several quarters.
The Stock Exchange of Thailand (SET) reported that LCs listed on the SET posted a combined net profit in the first half of 2026 that increased by 22.2% compared to the same period last year.
This reflects ongoing expansion in the Thai economy, supported by diverse business sectors including energy, banking, telecommunications, construction materials, and petrochemicals.
Thairath Money has compiled the top 10 Thai listed companies with the highest net profits in Q2/2026, providing an overview of their outstanding quarterly performance.
1. PTT Public Company Limited (PTT) Thailand's largest integrated energy company reported a Q2/2026 net profit of 52,524.59 million baht, up 143.93% from 21,532.88 million baht in the same quarter last year.
This growth was mainly driven by improved product price spreads across gas and exploration and production businesses, along with ongoing operational efficiency and cost control.
2. PTT Exploration and Production Public Company Limited (PTTEP) A PTT subsidiary engaged in petroleum exploration and production domestically and internationally, PTTEP posted a Q2/2026 net profit of 27,197.17 million baht, a 101.23% increase from 13,515.26 million baht in the prior year quarter.
The main drivers were higher petroleum sales volumes and average selling prices aligning with crude oil price trends.
3. Advanced Info Service Public Company Limited (ADVANC) Thailand’s leading telecommunications and digital service provider under the AIS brand, covering mobile, home internet, and digital enterprise services, reported a Q2/2026 net profit of 13,716.01 million baht, up 24.90% from 10,981.89 million baht a year earlier.
Growth was supported by core business expansion, reduced frequency spectrum and network asset depreciation costs, and disciplined expense management.
4. Kasikornbank Public Company Limited (KBANK) A major Thai commercial bank offering comprehensive financial services to retail and corporate customers, KBANK posted a Q2/2026 net profit of 13,247.49 million baht, increasing 6.08% from 12,488.19 million baht in the same quarter last year.
Despite a narrowing net interest margin (NIM) due to lower interest rates, loan growth and efficient cost management supported profits.
5. Gulf Energy Development Public Company Limited (GULF) A major energy company, GULF recorded a Q2/2026 net profit of 12,445.68 million baht, down 80.51% from 63,871.48 million baht in the prior year quarter, due to a special gain of over 56,120 million baht from a merger with INTUCH in Q2/2025.
However, its core profit was 12,332 million baht, up 74% year-on-year, setting a new record driven by total revenue of 50,294 million baht, a 24% increase from growth in natural gas and renewable power plants plus higher profit sharing from ADVANC.
6. Bangchak Corporation Public Company Limited (BCP) An operator in refining, fuel distribution, and clean energy businesses, especially sustainable aviation fuel (SAF), BCP posted a Q2/2026 net profit of 12,239.36 million baht, turning around from a net loss of 2,560.10 million baht in the same period last year.
Key support came from reversing previous oil price hedging losses and first-time recognition of commercial SAF business profits.
7. PTT Global Chemical Public Company Limited (PTTGC) Thailand’s largest integrated petrochemical and refining company under PTT reported a Q2/2026 net profit of 12,208.35 million baht, reversing from a net loss of 3,616.14 million baht a year earlier.
This was mainly driven by higher petroleum and petrochemical product prices following crude oil trends, tight petrochemical product supply, plus inventory gains and investment profit sharing.
8. Krung Thai Bank Public Company Limited (KTB) A large Thai commercial bank serving both government and private sectors, KTB posted a Q2/2026 net profit of 12,125.22 million baht, up 9.02% from 11,122.00 million baht in the prior year quarter.
Total loans grew 5.1% year-on-year, supported by retail, large corporate, and government loans, maintaining a return on equity (ROE) of 10.5%, driven by growth in wealth management and capital markets, alongside prudent asset quality management.
9. The Siam Cement Public Company Limited (SCC) Operating in cement, construction materials, chemicals, and packaging under the SCG group, SCC reported a Q2/2026 net profit of 11,534.56 million baht, down 33.47% from 17,337.29 million baht in the same quarter last year due to significant special items from business restructuring in the prior year.
10. SCB X Public Company Limited (SCB) The holding company of Siam Commercial Bank group, covering banking, digital financial services, and tech platforms, posted a Q2/2026 net profit of 11,116.70 million baht, down 13.06% from 12,786.07 million baht a year earlier.
Net interest income declined 10.2% year-on-year due to pressure on NIM following policy rate cuts, while fee income grew 14.8% supported by wealth management business growth.
Sarawit Kraisrikul, Deputy Managing Director and Head of Marketing at the Stock Exchange of Thailand, disclosed that 800 listed companies, representing 95% of the total 839 companies required to submit financial statements as of 30 June 2026 GMT+7, have reported their first-half 2026 results.
Among these, 592 companies, or 74%, reported net profits, reflecting an overall positive earnings trend in the Thai stock market.
Q2/2026 earnings of listed companies recovered across nearly all sectors, positively impacting first-half 2026 performance compared to the same period last year. SET-listed companies
Financial positions strengthened, with the debt-to-equity ratio (excluding the financial sector) at 1.28 times as of 30 June 2026 GMT+7, down from 1.30 times in Q2/2025.
Sarawit noted that sustained economic growth in Q2/2026 led to overall earnings growth among listed companies in almost all sectors, with the petrochemical sector showing notably higher performance and profit margins.
Other sectors also grew, including industrial goods, technology and electronics aligned with digital expansion, and services driven by tourism and consumer demand.
However, commercial banks were impacted by lower policy interest rates, while food and agricultural sectors continued to face challenges from declining product prices.
Meanwhile, listed companies on the Market for Alternative Investment (mai) also reported growth, with first-half 2026 sales totaling 108,868 million baht, up 8.5%, operating profit rising 21.5% to 8,432 million baht,
and net profit increasing 17.1% to 4,774 million baht year-on-year, underscoring that profit growth momentum in Thai listed companies this year is broad-based beyond just large-cap stocks.
For stock and investment news, visit Thairath Money at
Follow the Facebook page Thairath Money at this link