7 months Meralco profit up ‘despite uncertainties’ Manilatimes |Biz
Manila Electric Co. (Meralco) reported on Tuesday that its consolidated net income increased by 13 percent to P23.1 billion last year from P20.5 billion in 2017, despite economic challenges. During a briefing at its main office in Pasig City, the listed power titan said its consolidated core net income reached P22.4 billion in 2018, a 11-percent growth from P20.2 billion the year before. Gross revenues hit P304.5 billion last year, up 8 percent from the 2017 figure, due to higher volumes and pass-through generation charges resulting from higher average fuel costs, a weaker peso and higher spot prices at the ... more