CORRECTED-Philippines' PLDT Q4 net profit surges six-fold

Mon Mar 4, 2013 11:41pm EST

(Corrects headline to show increase is six-fold, not five-fold)

MANILA, March 5 (Reuters) - Philippine Long Distance Telephone Co (PLDT), one of the country's biggest firms by market capitalisation, posted a 525 percent jump in quarterly net profits on higher revenues from its mobile phone business.

PLDT, part-owned by Hong Kong's First Pacific Co Ltd , Japan's NTT Communications and NTT DoCoMo , said its net income in October to December was 6.7 billion pesos ($164 million) compared with 1.1 billion pesos in the same year-ago period.

That brought the company's full-year net income to 35.5 billion pesos, up 12 percent from 2011.

Core net profit, which excludes currency and derivatives-related items, gained 10 percent to 9.3 billion pesos for the fourth quarter, bringing full year core net income to 37.3 billion pesos, in line with the company's guidance

($1 = 40.775 Philippine pesos) (Reporting by Erik dela Cruz and Rosemarie Francisco; editing by Miral Fahmy)

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