PLDT says nine-month net income down 25% to P16.48 billion

November 8, 2018

PLDT Inc. on Thursday reported its net income from January to September declined by 25 percent.

The country’s largest telecom company posted a net income of P16.48 billion in the January to September period from P21.87 billion in the same period last year.

In the third quarter, PLDT said net profit reached P4.5 billion lower than the P5.38 billion.

Excluding foreign exchange gains and other non-recurring income, PLDT recorded a core profit without Voyager amounted to P19.07 billion in the first nine months, up by 5 percent from last year’s P18.12 billion.

Manuel V. Pangilinan, chairman, president and chief executive of PLDT said home and enterprise business as well as wireless business can provide a  powerful lift to the overall business of PLDT and Smart.

“This will enable us to deal more effectively with the challenges that will posed by heightened competition from players old and new,” he added. DMS