MANILA, Philippines—Philippine Long Distance Telephone Co., the country's largest telecommunications group, said Tuesday its net profit in the first quarter rose 21 percent from a year ago, lifted by revenue from its mobile phone service.
PLDT said net profit in the January-March quarter rose to 10.45 billion pesos (US$247 million; euro156 million) from 8.61 billion pesos a year earlier.
Core profit rose 11 percent on year to 9.3 billion pesos (US$221 million; euro143 million) -- a quarter of the company's full-year guidance of core profit of 37 billion pesos.
PLDT said the number of subscribers to its mobile service, its main revenue earner, rose to over 32 million at the end of April, up from 30 million at the end of 2007.
PLDT Chairman Manuel Pangilinan said soaring inflation appears to have had a minor impact on consumer spending in the first quarter, although it remains a concern.
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