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Friday, July 19, 2024

PTT’s net loss hit P15.6m in 1st quarter

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Philippine Telegraph and Telephone Corp. said Friday net loss narrowed 23.4 percent in the first quarter despite the impact of the coronavirus pandemic. 

PT&T said net loss amounted to P15.60 million in the first three months, lower than the P20.36-million loss in the same period last year. 

The company said revenues increased 38 percent in the first quarter to P107.37 million from P77.55 million a year ago. PT&T has over 1,800 data services circuits in the first quarter, mostly broadband connections. 

Fixed broadband for enterprises increased by 44 percent from a year ago, driven by a 192-percent increase in subscribers since 2017 due to the added capacity on its network and extended fiber reach within the high-growth potential areas in National Capital Region, Cavite, Laguna, Barangas, Rizal and Quezon.

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