EasyCall returns to profit as revenues soar
LISTED telecommunications company EasyCall Communications, Inc. returned to a net attributable profit in the second quarter of the year after losing P1.64 million in the same period last year.
The company reported an attributable net income of P1.9 million for the second quarter of 2022.
Revenues for the period soared 425.2% to P107.03 million from P20.38 million previously.
Expenses increased 566.2%to P86.6 million from P13 million in the same period a year earlier.
For the first half, the company’s attributable net income surged 498.4% to P11.37 million from P1.90 million previously.
Revenues for the first six months reached P239.08 million, up 457.3% from P42.90 million in the same period in 2022.
According to the company, its positive financial results are primarily due to its ongoing initiatives in managed connectivity, technology and data services, as well as the acquisition of Transnational E-Business Solutions Inc. (TESI) earlier this year.
“With TESI as part of EasyCall Group, we have been able to ramp up our digital transformation efforts, and we are really looking forward to continuing this journey of exploring new opportunities and elevating our service offerings in connectivity and technology solutions,” EasyCall President Zaki Khaled Antoni Delgado said in a statement. — Arjay L. Balinbin
