Ayala income jumps 45% to ₱7.8B in Q1 2022

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Metro Manila (CNN Philippines, May 13) — Ayala Corporation's earnings soared from January to March this year amid stronger performances from its banking, real estate, and telecommunications units.

"Ayala's net income increased 45 percent to ₱7.8 billion in the first quarter of 2022 on the back of improved results from Ayala Land and BPI, which saw double-digit earnings growth in the period, because of better mobility and general economic activity particularly in March," reads its disclosure published Friday.

Ayala Land Inc. earned ₱3.2 billion during the period, a 14% rise driven by higher operating results from its shopping centers, hotels, and resorts along with lower costs.

Meanwhile, BPI saw its profit jump 60% to ₱8 billion amid higher net interest income, lower loan loss provisions, and normalized tax expenses after the one-time adjustments from the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Law's effectivity last year. 

Ayala also cited the partial sale of Globe Telecom Inc.'s data center business for its robust first-quarter figures. The telco registered ₱13.7 billion in net earnings during the quarter, also expanding 86% due to lower non-operating expenses.

These tempered the weaker figures from Ayala's energy and water segments, it added.

ACEN reported a net income of ₱405 million during the stretch — down 68% amid higher costs of purchased power and impact of Typhoon Odette to its output in Visayas.

Manila Water's earnings fell 29% to ₱925 million. This is "due to higher cost and expenses, which compounded the effect of Ayala's reduced stake in the company from the sale of secondary shares to Trident Water last year," said the conglomerate.