MAYA, the digital finance platform partly owned by listed telecommunications firm PLDT Inc., is expected to sustain profitability this year, supported by positive contributions from its wallet, merchant, and banking businesses, according to the Pangilinan-led group.
“Maya has three revenue streams: the wallet, the merchant and the bank. And the bank has credit cards and all of them actually have shown positive EBITDA (earnings before interest, taxes, depreciation, and amortization). That is very encouraging,” PLDT Chairman and Chief Executive Officer Manuel V. Pangilinan told reporters last week.
“So, taken as a whole, taken in the round, their profitability has extended all the way to May,” he added.
Beyond the first quarter, he said the platform’s EBITDA remains positive.
Asked about PLDT’s plan to increase its stake in Maya, Mr. Pangilinan said: “There is nothing definitive to report at this time.”
“I think it’s good that management is focused on continuing to operate the three revenue streams well,” he said. “So, we’re looking at a few more things that we need to do. But otherwise, I’m quite happy with the results.”
PLDT, which holds a partial stake in Maya, reported an 8.04% decline in its first-quarter attributable net income, as higher expenses outpaced modest revenue growth.
Maya posted a net income of P127 million, driven by strong lending, deposit, and payments volumes.
PLDT expects Maya to generate about P1 billion in profit this year.
Despite the earnings decline in the first quarter, Mr. Pangilinan said the company sees bright spots in home fiber and Maya.
“I think it’s been tough for the past five months. So, the bright spots are home fiber and Maya. But it’s a bit of a struggle on the wireless side and on the enterprise side,” he said.
Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., holds a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Sheldeen Joy Talavera
