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CPALL No. IDR 11/2021 Date : 12 May 2021 Management Discussion and Analysis ( MD & A ) for the First Quarter of 2021 Re : To : The President The Stock Exchange of Thailand CP All Public Company Limited ( the Company or CPALL ) would like to clarify operating results for the first quarter of 2021 which the Company and its subsidiaries reported net profit of Baht 2,599 million . The main reasons are as follows : Total Revenue In 1Q21 , CPALL's total revenue were Baht 133,431 million , decreased by 8.5 percent from 1Q20 was mainly due to soften revenue from sales and services . A decrease of revenue was a consequence of new wave of COVID - 19 pandemic which it once again had a negative impact on the Thai economy , especially in January . These affected slower recovery of domestic consumption and the purchasing power of consumers , including tourism . Gross Profit In 1Q21 , CPALL recognized gross profit from sales and services at Baht 27,279 million , decreased by 12.5 percent from the same period of last year as a result of lower revenue from sales and services of convenience store business . Consolidated Gross Profit margin to revenue from sales and services was 21.2 percent in this quarter , decreased from 22.1 percent in 1Q20 , mainly from higher gross profit contributed from cash and carry business . 1