Manila Water Co. Inc. reported a 108 percent increase in net income in the first three months of the year to P2.29 billion from only P1.1 billion in 2022.
The improved performance was driven by the 24 percent improvement in billed water for the period of 325.3 million cubic meters (mcm) from last year’s 263.3 mcm.
Consolidated revenue totaled P7.38 billion, a 44 percent growth from previous year’s P5.14 billion.
Billed volume in the East Zone went up 6 percent to 124.8 mcm from 117.6 mcm.
Other Manila Water local subsidiaries reporting big improvements include Boracay Water with 10 percent growth, Cebu Water with 7 percent improvement and Clark Water 5 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 also partnered with water districts in Bulacan, Clark in Pangasinan, Calasiao in Pangasinan, San Jose in Nueva Ecija, Laguna, Boracay in Aklan, Cebu, Tagum in Davao del Norte, as well as with property developments through Estate Water.
Manila Water has operations in Thailand, Vietnam, Saudi Arabia, Indonesia and Myanmar.
