Ayala Corp. Reports Net Income of ₱3.4 Billion in Q3

Ayala Corp. (AC) reported a net income of ₱3.4 billion for the third quarter of 2020.

Fernando Zobel de Ayala, Ayala President and COO, said “It is encouraging to see improvements in the performance of our businesses as the economy gradually reopens. Ayala Land, BPI, and AC Industrials have all shown a marked recovery in their third quarter results compared to the previous period,”

“We are hoping to see this trajectory sustained in our businesses with a further loosening of restrictions,” he added.

For the period January-September of 2020 AC reported a net income of ₱11.4 billion, a 75% drop from ₱46.2 billion for the same period last year.

Source: ABS-CBN