Manila Water Co. Inc. booked a 61- percent jump in its net income for the first nine months of the year at P7.26 billion compared to the P4.52 billion recorded in the same period in 2022.
The company recorded the improved financial performance amid growths in both total billed volumes and billed connections for the period.
Manila Water experienced a 2-percent improvement in total billed volume for the period at 963 million cubic meters (mcm) from last year’s 948.1 mcm while billed connections also went up by 2 percent to 1.32 million from 1.29 million.
The water concessionaire’s consolidated revenues for the period also reached P23.14 billion, a 39 percent growth from the previous year’s P16.65 billion.
Billed volume in the East Zone went up by 4 percent at 389 mcm compared to 373.3 mcm.
Other Manila Water local subsidiaries that recorded big improvements for billed volumes are Metro Ilagan with 0.6 mcm from 0.2 mcm equivalent to a 200 percent surge as well as Tagum Water with 7.8 mcm from 7.2 mcm equivalent to a 10 percent increase and South Luzon Water with 4.2 mcm from 3.9 mcm which is up by 8 percent.-Jed Macapagal
