Meralco profit slightly up in Jan-Sept
Power utility giant Manila Electric Co. (Meralco) reported a three percent increase in its nine-month core income to P15.4 billion this year.
Reported net income rose two percent to P15.9 billion while consolidated revenues grew 10 percent to P214.39 billion.
Meralco saw a 4.3 percent growth in sales volume to 31,401 gigawatt-hours (gwh), despite a high base in 2016. Its customer count also increased 4.6 percent to 6.25 million.
With only two months remaining in 2017, we are indicating a guidance on 2017 consolidated core net income to be a slight improvement over the amount reported in 2016,” said Meralco chairman Manuel V. Pangilinan.