DIGIPLUS Interactive Corp. saw its net income in the first quarter surge by over four times to P2 billion from P436.8 million last year, anchored on a robust digital retail business.

In a disclosure on Wednesday, the gaming firm said consolidated revenues more than tripled to P13.6 billion from P4.2 billion following higher user traffic on its flagship platforms, BingoPlus and ArenaPlus, as well as new game offerings.

"We intend to sustain our growth momentum by continuing to invest in innovation and new technologies to enhance the user experience and adding new digital offerings traditionally well loved by Filipinos," DigiPlus President Andy Tsui said.

"By delivering innovative, fun, and accessible digital offerings, we aim to continue revolutionizing the entertainment space in the Philippines," he added.

DigiPlus said that it was continuing to diversify its digital entertainment portfolio with the launch of new product offerings catering to various age groups and lifestyle preferences.

"DigiPlus' platforms have since become a community and entertainment hub, a source of revenue for the Philippine government, and a contributor to various social and educational non-profit programs," it said.

The company has allocated up to P2 billion for capital expenditures this year, with at least 50 percent of the budget earmarked for technological and game development.

It expects to grow its revenues by 10 to 20 percent in 2024 and add up to 10 million users to its digital gaming platforms.

Last year, DigiPlus' earnings ballooned by nearly six times to P4.1 billion from P686.9 million in 2022, while consolidated revenues soared 306 percent higher year on year to P27.3 billion.

On Wednesday, DigiPlus' share price fell by 62 centavos to close at P12.76 each.