Philippines-based PLDT posted strong revenue growth across all its business units in Q3, with its profit nearly doubling as it took measures to reduce administration expenses.
Net profit jumped 96 per cent over Q3 2019 to PHP7.5 billion ($154.8 million) on consolidated revenue of PHP44.4 billion, up 9.1 per cent. Selling and general costs fell 11.7 per cent to PHP16.8 billion and interconnect charges fell 40 per cent to PHP619 million.
Mobile service revenue increased 9.5 per cent to PHP25.1 billion, with data up 25.2 per cent to PHP17.1 billion, voice down 12.2 per cent to PHP4.79 billion and SMS dropping 24.3 per cent to PHP1.79 billion.
Its home broadband business grew 16 per cent to PHP10.7 billion and enterprise revenue increased 8 per cent to PHP10.6 billion.
In a statement, chairman and CEO Manuel Pangilinan (pictured) said: “As we enter the fourth quarter of what has been an extraordinary year, we are fortunate to be where we are. With service revenue at an all-time high, we are poised to surpass last year’s core income.”
Its total base increased 1.3 per cent to 72.4 million, with prepaid up 1.5 per cent to 70 million and post-paid down 3.9 per cent to 2.34 million.
ARPU at mobile unit Smart rose 1.8 per cent to PHP116 for prepaid, with post-paid dipping marginally to PHP804.
Capex for the full year is forecast to remain at about the same level as in 2019 (PHP70 billion) as Covid-19 (coronavirus) lockdown measures eased in Q3, allowing it to ramp network rollouts.
Smart plans to add about 2,000 sites in 2021 and also lined up six tower companies to build an initial batch of 180 to 200 common towers to support a related government policy.Subscribe to our daily newsletter Back