Dominion Holdings books lower Q3 earnings

DOMINION HOLDINGS, Inc. (DHI) saw its net income decline by 54.57% year on year in the third quarter due to lower interest earnings.

The company’s net income stood at P36.53 million in the three months through September, down from P80.4 million in the same period last year, its financial statement showed.

In the first nine months, the company’s net profit stood at P171.01 million, down by 16.86% from P205.69 million a year ago.

“The company paid P3.2 billion in cash dividends in May 2024, which reduced the funds available for investment, and consequently, resulted in lower income from investments,” DHI said.

The company’s interest income was at P49.24 million in the third quarter, down by 44.61% from P88.9 million a year ago

Meanwhile, its expenses stood at P2.87 million in the period.

Total assets were at P3.297 billion at end-September, down from P6.31 billion a year prior.

DHI shares inched down by one centavo or 0.61% to end at P1.64 each on Wednesday. — AMCS