GLOBE Telecom Inc. and unit Innove Communications Inc. have informed the National Telecommunications Commission that they will charge higher fees for their landline subscription in Luzon this month because of a weak peso.

The two Ayala-led telcos said they would impose a 182.10 percent currency exchange rate adjustment (CERA) effective this month from 177.90 percent in October.

The higher CERA was based on an exchange rate of P43.45 to the US dollar in November from P43.03 in October. In accordance with currency adjustment provisions, Globe and Innove may raise or lower their local service rates by one percent for every 10 centavo upward or downward change in the forex rate.

The telcos’ exchange rate base reference stands at P25.40:$1.

They will charge CERA at P201.17 for residential subscribers and P422.89 for business clients.

Subscribers with trunk lines will be charged P413.55 for residential lines and P847.99 for business lines.

At present, Globe has over 666,000 landline subscribers nationwide. Globe’s total fixed line voice revenues decreased by 11 percent to P1.9 billion from P2.1 billion last year, mainly because of the continued weakness in demand for voice-only, fixed line products.

Owned by Ayala Corp. and Singapore Telecom, Globe said its third quarter profit grew by 4 percent to P2.49 billion from P2.39 billion last year.

In the first nine months, earnings rose 7 percent to P7.99 billion from last year’s P7.45 billion.

Excluding foreign exchange and mark-to-market gains and losses as well as non-recurring items, Globe’s core net income went up by 15 percent to P8.18 billion in the first nine months from P7.13 billion last year.

Consolidated service revenues rose by a tenth to P52.92 billion from P47.92 billion last year.

Globe shares climbed to P990 each on Monday from P970 last Friday.