GT Capital's Net Income Edges Down in 2024; Net Income Rises 11%

MT Newswires Live

03/26

GT Capital's (PSE:GTCAP) consolidated net income for 2024 slid year over year to 28.8 billion Philippine pesos from 29.3 billion pesos in 2023, according to a Wednesday Philippine bourse disclosure.

However, the conglomerate's core net income rose 11% in 2024, excluding non-recurring gains from lot sales and incentives under the Comprehensive Automotive Resurgence Strategy (CARS) program.

The growth was driven by record earnings from its key units, Metropolitan Bank & Trust (PSE:MBT), and Toyota Motor Philippines, as well as its associate, Metro Pacific Investments (PSE:MPI), it said.

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