Manila Water Co. Inc. booked a 61 percent jump in net income in the first nine months totaling P7.26 billion versus only P4.52 billion in the same period in 2022.
The concession reported growth in both total billed volume and billed connections for the period.
Manila Water had a 2-percent boost in total billed volume for the period to 963 million cubic meters (mcm) from last year’s 948.1 mcm even connections also went up 2 percent to 1.32 million from 1.29 million.
Consolidated revenue for the period also totaled P23.14 billion, 39 percent higher than last year’s P16.65 billion.
Billed volume in the East Zone went up 4 percent to 389 mcm compared against only 373.3 mcm.
Other Manila Water subsidiaries posting big improvements in billed volumes include Metro Ilagan with 0.6 mcm from 0.2 mcm equivalent to a 200 percent surge, 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, up by 8 percent.
Manila Water serves customers in Makati, Pasig, Pateros, Marikina, Mandaluyong, San Juan, Taguig, some parts of Quezon City and Manila; and several towns in Rizal province that include Taytay, Teresa, Angono, Antipolo, Baras, Binangonan, Cainta, San Mateo and Rodriguez.
It has partnerships with water districts in Tagum, Davao del Norte, Bulacan, Clark in Pampanga, Calasiao in Pangasinan, San Jose in Nueva Ecija, Laguna, Boracay in Aklan, Cebu.
Manila Water also has operations in Thailand, Vietnam, Saudi Arabia, Indonesia and Myanmar.
