Manila Water Co. Inc. booked a 108- percent jump in net income in the first quarter of the year at P2.29 billion from P1.1 billion recorded for the similar period in 2022.
The company’s improved financial performance was mainly driven by the 24 percent improvement in total billed volume for the period at 325.3 million cubic meters (mcm) from 263.3 mcm.
Manila Water’s consolidated revenues for the period reached P7.38 billion, a 44 percent growth from the previous year’s P5.14 billion.
Billed volume in the East Zone went up by 6 percent at 124.8 mcm compared to 117.6 mcm.
Other Manila Water local subsidiaries that recorded big improvements for billed volumes are Boracay Water with 0.8 mcm from 0.7 mcm equivalent to a 10 percent growth, Cebu Water with 3.5 mcm from 3.3 mcm equivalent to a 7 percent improvement and Clark Water with 3.3 mcm from 3.2 percent, up by 5 percent.
