endIndex: Metro Manila (CNN Philippines, May 7) — San Miguel Corp. kept its momentum amid the coronavirus pandemic as it recorded a ₱17.2-billion net income for the first quarter of 2021. In a statement, the conglomerate said this is 15 times better than the ₱1.1 billion it earned in the same period last year, as almost all of its major businesses saw significant recoveries in the first three months led by Petron Corp. and San Miguel Foods. "We're encouraged by these improvements, as they reflect that our businesses are definitely headed towards full recovery. Despite the challenges ahead, we're determined to sustain our performance and continue taking on meaningful projects and investments that will help our economy recover," SMC President and CEO Ramon Ang said.