Ayala Corp posts P10.2-B net income in Q1, up 31 pct


Posted at May 10 2023 03:57 PM

MANILA — Ayala Corp said on Wednesday its net income grew 31 percent to P10.2 billion in the first three months of the year. 

Core net income in the first quarter of 2023 jumped 61 percent to P9.4 billion due to the strong performances of its key businesses, Ayala Corp said in a disclosure to the stock exchange.

"One of our priorities is to end 2023 with profits above pre-COVID levels. Given our first quarter results our constructive outlook for the year remains intact," Ayala President and CEO Cezar Consing said. 

Among the top contributors in the first quarter include its banking arm BPI, posting a net earnings of P12.1 billion while Ayala Land posted 42 percent growth in net income.

ACEN's net income hits P2 billion while Globe's core net income was flat at P5.1 percent, it said.