Total net earnings of companies listed on the Philippine Stock Exchange (PSE) fell 19.8 percent to P162.82 billion in the first three quarters from P203.04 billion in the same period last year because of ill effects of the global financial crisis and a rise in inflation in the third quarter, PSE data show.

The numbers are based on the financial statements of 231 corporations, including the companies listed on the PSE board for small and medium-scale enterprises (SME).

Total revenues of all PSE-listed companies in the January-September period grew 13.53 percent to P1.93 trillion from P1.7 trillion in the same months last year, the PSE said.

?The net income results show that our companies are not spared from the ill-effects of the financial crisis and the rising inflation during the third quarter of this year,? PSE president Francis Lim said.

Lim said that among listed firms, the oil, property, and industrial sectors posted higher incomes than in the comparative 2007 period.

The combined net income of property companies rose 14.92 percent to P21.14 billion from P18.40 billion. That of mining and oil companies grew slightly to P4.96 billion from P4.44 billion, and that of industrial companies went up 7.74 percent to P47.97 billion from P44.52 billion.

Lower profits were recorded by holding firms, banks and financial companies, and services companies, including those in the telecommunications, broadcasting, technology, and gaming.

The holding firms sector suffered the worst drop of 42.12 percent to P27.22 billion from P47.03 billion. The financial sector recorded a 36.53-percent fall to P21.84 billion from P34.42 billion, and the services sector 26.84 percent to P39.67 billion from P54.23 billion.

The combined net income of companies on the SME Board slipped 1.93 percent to P8.64 billion in from P8.81 billion.

Blue chips ? the 30 companies in the PSE index ? together posted a 12.46-percent drop in net income to P125.27 billion from P143.09 billion. Edited by INQUIRER.net