1Q consolidated core net income of Manila Electric Co. (Meralco) increased 11% to P10.1bn due to higher energy sales volume and continued contributions from various businesses.

Manila Electric Co. (Meralco) reported an 11% increase in its first quarter consolidated core net income to P10.1bn, driven by higher energy sales volume from the distribution business and continued contributions from power generation, retail electricity supply, and non-power related businesses. The company expects core profit to reach P40bn in 2024, up from P37.1bn in 2023. Meralco's consolidated revenues for Q1 were flat at P104.5bn due to lower pass-through charges and energy fees, reflecting lower fuel prices.

April 29, 2024
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