GT Capital Holdings Inc. said profit for the first quarter of the year reached P4.1 billion, up 60 percent from last year’s P2.5 billion.
The conglomerate further reported a core net income of P3.4 billion for the first quarter of 2021, a 19 percent increase from P2.8 billion during the same period last year. This was driven primarily byMetropolitan Bank & Trust Co. (Metrobank), whose net income amounted to P7.8 billion, as well as Toyota Motor Philippines (TMP), which realized a net income of P2 billion. Higher gross premium income from AXA Philippines also supported GT Capital’s performance during the period,” the company said.
TMP posted profit of P2 billion, up 39 percent from P1.4 billion the previous year. Revenues were at P33.9 billion, up 17.3 percent from P28.8 billion last year.
Federal Land Inc. posted profit of P327 million, down 12.8 percent from P375 million last year, due to construction and sales activity restrictions during the quarantine period.
Revenues were at P2.4 billion, down 2.27 percent from P3.3 billion last year.
AXA Philippines posted profit of P324 million, down from P367 million last year.
