MANILA - PLDT on Thursday said its telco core net income rose 5 percent in the first three months of the year to P8.6 billion.

The company disclosed to the stock exchange that this was mainly due to higher EBITDA and lower depreciation, even as financing costs increased.

Reported income meanwhile was at P9 billion in the first quarter.

“Because of soaring inflationary pressures, we must strive to attain cost-efficiency and operational excellence in order to provide leveled-up customer experiences while keeping our products and services affordable for our subscribers,” said Alfredo S. Panlilio, PLDT and Smart President and CEO.

PLDT said its fintech arm Maya also had 1.8 million bank customers as of end-March and P21 billion in deposits.

PLDT Chairman Manuel Pangilinan said the company’s capex overrun issues “have largely been resolved” and that the company now looks forward to growth.

Pangilinan said the first quarter results show the resilience of the
company. He also reiterated PLDT’s ambition to reinvent itself by 2025.

“As we approach our 100th year, we forge ahead in pursuit of our greater dreams: Enabling every Filipino, bringing families and communities together, and being a Company that our countrymen can rely on. We look to the future with undiluted hope,” he said.

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