PT&T pares down losses
Philippine Telegraph and Telephone Corp. (PT&T) reduced its net loss by 27 percent to P22.8 billion in 2021 from P31.3 million net loss in the same period in 2020.
Revenues grew 19 percent to P520.74 million in 2021 from P438.62 million in 2020 attributed to an uptick in IT services demand as well as a respectable increase in its subscriber base at 9 percent.
PT&T’s foray in IT services paid off with an impressive 207 percent growth, contributing 14 percent to the overall revenue share of the company.
PERC Q1 net up 48%
Petro Energy Resources Corp. (PERC) booked a 48 percent increase in consolidated net income to P253 million in the first quarter from P170 million in the same period last year,
The company attributed this to higher crude oil prices, higher electricity sales and reduced interest expenses resulting from installment payments of loan principals.
PERC said that for the period, crude oil price averaged at $107.95 per barrel from the previous $60.97 per barrel while its 70 megawatts (MW) Tarlac solar and 36 MW Nabas wind power plants both enjoyed higher electricity sales.
CREIT gains from rental income
Citicore Energy REIT Corp. (CREIT) reported a net income of P300 million in the first quarter from P24 million in the same period last year as it begins to realize rental income from its renewable assets leased out to solar plant operators.
CREIT’s gross revenues jumped 470 percent to P332 million, most of which consisted of lease income from various solar plant companies.
CREIT is optimistic about generating recurring green sources of lease revenues, translating to increasing distributable income and attractive dividend yields to its shareholders.
CTS Global Q1 down
Stockbroker-dealer CTS Global Equity Group Inc. reported profit of P20.1 million in the first quarter, down 29.94 percent from last year’s P28.69 billion.
Revenues hit P38.4 million, down 56.7 percent from P88.7 million.
Revenues decreased on lower trading gains from proprietary trading due to global equity market conditions. The company said its main markets experienced high market volatility for the period.
DFNN bounces to profit
Casino game developer DFNN Inc. bounced to profit in the first quarter of the year, at P74.39 million from a P34.54- million loss the prior year.
Revenues hit P283.7 million, up 81.3 percent from P156.5 million in 2021.
Revenue from share-based income generated from interactive technology platforms for the three months increased by 116.6 percent. Total revenue in this category amounted to P229.3 million or an increase of 116.6 percent compared to P105.9 million in the same period in 2021.
