Ayala Land Inc. (ALI) reported on Friday its net income dived to P6.4 billion in the nine months ending September on the continued impact of the coronavirus disease 2019 (Covid-19) on its operations. Despite these drops, Ayala Land saw its earnings improve between the second and third quarters as quarantine restrictions aimed at curbing the spread of the coronavirus were eased. For July to September, its net income grew almost ninefold to P1.8 billion and revenues climbed by 73 percent to P22.1 billion. We’ve seen, however, improvement in majority of our business lines in the third quarter as pandemic-related restrictions gradually eased,” Ayala Land President and Chief Executive Officer Bernard Vincent Dy said in the disclosure. Ayala Land shares added 95 centavos or 2.79 percent to end at P35 apiece on Friday.

Source: Manila Times November 06, 2020 16:52 UTC