PTFC Redevelopment Corp. recorded a P22.74-million net income for its March-to-May period, the company disclosed to the exchange on Tuesday.

The figure is 8.13% higher than its P21.03-million income from the same period last year. The company’s fiscal year ends in August.

Meanwhile, its third-quarter topline inched up to P48.63 million from P48.29 million year on year.

For the nine-month period ending on May 31, the company’s net income declined by 17.95% to P57.85 million from P70.50 million “due to lower occupancy rate and share in equity in net loss of associates.”

PTFC is engaged in warehousing and office rental services, and according to its website, it also offers self-storage facilities.

The decline in occupancy rate also affected the company’s revenues for the period, which went down by 3.46% to P145.40 million from P150.62 million.

Shares of PTFC were last traded on the stock exchange on July 7 at P43.10 apiece. — Keren Concepcion G. Valmonte