PLDT Q1 revenue reaches P9.8 billion with data and broadband growth

PANGILINAN-LED telecommunications company PLDT Inc. saw its attributable net profit rise 8.9% to P9.82 billion for the first quarter (Q1), compared to P9.06 billion a year ago, boosted by higher net service revenues.

PLDT’s combined revenues for the period rose 3.6% to P54.22 billion, compared to P52.36 billion previously driven by service revenues.

“We continue to squeeze growth out of a sector that seems bound by gravity. That said, our first quarter results are encouraging. We are determined to break this gravity,” said Manuel V. Pangilinan, Chairman and CEO of PLDT.

Broken down, service revenue increased the company’s revenue after rising 5% to P52.2 billion from last year’s P49.73 billion, accounting for 96.3% of the company’s revenue for the period, while non-service revenues accounted for the 3.7% share. at P2.03 billion.

Among service revenues, the company’s individual wireless segment recorded P21.1 billion, while mobile data revenues reached P18.8 billion, PLDT said.

To date, the number of active data users has grown to 39.4 million, with an average data usage per subscriber of 11.6 gigabytes.

PLDT’s core telecom sector income, excluding the impact of asset sales and Maya Innovations Holdings, formerly Voyager Innovations Holdings, reached P9.32 billion, up 7.9% from P8.64 billion in the first quarter of last year .

The wireless unit Smart Communications, Inc. of the telecommunications company has registered a total of 59 million mobile subscribers at the end of March.

Digital Lender Maya Bank, Inc. expects to launch more lending and investment products this year to help achieve the company’s goal of unbanked and underserved markets.

For the first quarter, Maya disbursed P34 billion in loans, with 59% of its borrowers having Maya as their first and only bank, the company said, adding that this highlights the company’s digital inclusion roadmap.

“Maya continues to solidify its status as the payments backbone of the Philippines by enabling thousands of large, small and micro businesses to accept digital payments,” PLDT said.

PLDT SELLS DATA CENTER BUSINESS
Furthermore, the company said it is in discussions with Nippon Telegraph and Telephone (NTT) Japan over its data center assets.

In March, PLDT said it was in discussions with a foreign entity over the asset management of ePLDT, Inc.’s data centers.

“Probably more than $1 billion,” Mr. Pangilinan said when asked about the price of PLDT’s data center business.

“Are we selling 48%, 40%, 50% or 60% of the data center business? Obviously, if you sell control of the data centers, we get more money or premium. The question for PLDT now is: Do we maintain control?,” he said.

However, Mr Pangilinan said nothing is final at this point and if negotiations with NTT Japan do not proceed, the data center unit may opt for a listing in a Real Estate Investment Trust (REIT).

Earlier this year, ePLDT sold its unit VITRO, Inc. designated to handle the data center activities.

“If we can’t get the values ​​from equity investors, let’s say we decide to keep control, we might get a REIT from the data centers,” Mr. Pangilinan said.

To date, PLDT has eleven data centers, including the 50-megawatt hyperscale data center in Sta. Rosa Laguna, which is expected to be completed in July.

Meanwhile, Mr. Pangilinan said PLDT is still looking for its next president after Alfredo S. Panlilio resigned last year due to health reasons.

Currently, Mr. Pangilinan says the company has at least two to three candidates under consideration for the role.

“I’m still alive, (the search) is ongoing. I have seen two to three candidates. But I think in the shorter period (we will announce this) because I do not intend to stay in this seat for a longer (period),” Mr Pangilinan said.

“I hope that early next year. We will have a prospect of a CEO position.”

On the local bourse, shares in the company fell P13 or 0.95% on Thursday to end at P1,355 each.

Hastings Holdings, Inc., a part of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., owns a majority interest in Business through the Philippine Star Group, which it controls. — Ashley Erika O Jose