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

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.

Topics: Philippine Telegraph and Telephone Corp. , PTT , net loss , coronavirus pandemic
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