LISTED Transpacific Broadband Group Int’l, Inc. saw its net income for the second quarter grow 84.6% as service income climbed despite the pandemic crisis.
The company’s second-quarter net income after tax increased to about P1.4 million from P752,039, its report for the previous quarter showed.
Second-quarter revenues, which include service income and other income, rose 43.9% to P14.1 million from P9.8 million in the same period a year ago.
Expenses for the quarter increased 44.8% to P12.6 million from P8.7 million in the previous year.
For the first half, net income after tax leaped 466.7% to P6.8 million from P1.2 million in the same period in 2020.
Total revenues for the first half went up 50.8% to P29.1 million from P19.3 million last year.
Expenses for the period increased 25.1% to P21.9 million from P17.5 million previously.
“There is no seasonal effect that had material [impact] on the financial condition or results of operation except for the potential impact of the coronavirus disease 2019 (COVID-19) pandemic,” the company said. — Arjay L. Balinbin
