GT Capital Holdings Inc. said profit in the first quarter of the year reached P2.5 billion, down 26.47 percent from P3.4 billion in 2019.
Revenues amounted to P39 billion, down 15.36 percent from P44.9 billion last year.
Core profit was recorded at P2.8 billion, down 15.15 percent from P3.3 billion last year.
Metropolitan Bank and Trust Co. posted profit of P6.1 billion from P6.8 billion last year. The bank’s core business posting a 13 percent gross revenue growth to P27.6 billion, 6 percent loan growth to P1.4 trillion, 8 percent deposits growth to P1.7 trillion, and non-interest income at P6.2 billion.
Non-performing loans (NPL) ratio was at 1.4 percent.
Toyota Motors Philippines (TMP) posted profit of P1.5 billion, down 16.67 percent from P1.8 billion last year. Revenues reached P28.8 billion, down 14.79 percent from P33.8 billion.
TMP posted vehicle sales of 25,686 units, down from 33,546 units last year, and its dealerships closed nationwide due to the government’s implementation of the enhanced community quarantine (ECQ) due to COVID-19. Toyota closed the period with a 36.3 percent share in the car market.
Federal Land Inc. posted profit of P375 million, up 98 percent from P190 million last year. Revenues reached P3.3 billion, up 33 percent from last year. Reservation sales grew 86 percent , while lease revenues went up 40 percent.
Metro Pacific Investments Corp. reported core profit of P3.4 billion, down 6 percent from P3.7 billion last year as the ECQ reduced toll road traffic, suspended rail services and decreased commercial and industrial demand for water and power, resulting in a decrease in contribution from operations of 5 percent.
Insurance arm AXA Philippines posted profit of P367 million, with profit from the life insurance business reached at P355 million. Consolidated life and non-life gross premiums was at P9.5 billion, up 27 percent P9.5 billion from P7.4 billion in the same period last year. AXA Philippines said its suffered a 30 percent decline in market value of its equities portfolio, due to the COVID-19 ECQ.
