The Manila Electric Company (Meralco) posted double-digit growth in its core earnings in the first three months of 2023. In a disclosure to the Philippine Stock Exchange on Tuesday, Meralco reported a consolidated core net income of P9 billion in the January to March period, up 40% from a year earlier.
The Manila Electric Company posted double-digit growth in its core earnings in the first three months of 2023.
Consolidated revenues also grew by 23% to P105.6 billion from P85.9 billion year-on-year “mainly due to higher pass-through charges resulting from the increase in natural gas prices, depreciation of the peso against the US dollar which averaged at P54.813 during the first three months of 2023 versus P51.
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