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Philippines' PLDT Q3 net profit slips 1 pct on yr
November 6, 2012 / 4:25 AM / in 5 years

Philippines' PLDT Q3 net profit slips 1 pct on yr

MANILA, Nov 6 (Reuters) - Philippine Long Distance Telephone Co (PLDT), the country’s most valuable listed company, posted a 1 percent slide in quarterly profit as an intense competition and the popularity of social media networking hurt 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 July to September was 9.2 billion pesos ($223 million) compared with 9.3 billion pesos a year earlier.

Core net profit, which excludes currency and derivatives-related items, fell 2 percent to nearly 9.4 billion pesos.

PLDT said it was maintaining its core net profit guidance of 37 billion pesos for the full year.

$1 = 41.2500 Philippine pesos Reporting by Erik dela Cruz; Editing by Rosemarie Francisco

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