PLDT’s Telco Core Income Reaches P8.2 Billion, Raises Capital Expenditure to P85 Billion

The Philippine Long Distance Telephone Company (PLDT) has now achieved a telco core income of P8.1 billion during the first quarter of 2022, says the company last Thursday. PLDT’s telco core income was 9% higher compared to the same period from 2021. Meanwhile, in the telco’s disclosure to the stock exchange, reported net income rose 56% to P9.1 billion.

“We’re moving in lockstep with our customers’ shifting needs as COVID-19 restrictions ease. Our superior, reliable integrated network continues to sustain hybrid work and learning set-ups, keep loved ones connected online, deliver entertainment content, as well as support businesses and e-commerce,” PLDT and Smart’s President and CEO Alfredo Panlilio says, according to PLDT, consolidated service revenues were able to hit P46.4 billion, an all-time high for the quarter.

PLDT Chairman Manuel Pangilinan reveals an increased capital expenditure for 2022 with P85 billion, which is considerably higher than the company’s previous range of P76 to P80 billion. The company also announces a recent investment on a P77 million sale and leaseback arrangement for 5,907 telco towers, with part of the proceeds going to debt repayments. Apart from this, the telco company recently celebrated its 100MW data center located in Laguna.

PLDT and Smart’s Paymaya have now also rebranded to Maya along with the launch of Maya Bank, their digital bank. Pangilinan states that their launch is just the beginning, and says “Success for us is millions of Filipinos who can be banked – whose savings can bear the weight of inflation, where financing can help them plan better for their future – and reliance placed on trusted partner in Maya.” As of end-March, Maya now has over 47 million registered users.

Source: ABS CBN News