PLDT Inc. said Thursday net income slightly dropped in the first quarter amid soaring inflation and seasonal dip in consumer spending. READ MORE:
The country’s largest telecom company said net profit amounted to P9.015 billion in the first quarter, down from P9.07 billion in the same period last year.
“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,” PLDT and Smart president and chief executive Alfredo Panlilio said.
Data and broadband, which grew by 6 percent to P38.5 billion, contributed 82 percent of consolidated service revenues. Mobile data revenues increased 4 percent to P17 billion as data usage per subscriber and data traffic continued to register year-on-year increases.
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