This increase is attributed to higher sales volumes in its distribution segment and steady contributions from its power generation, retail electricity supply, and non-power sectors.
Distribution led the company’s income sources with P5.8 billion or 58 percent of core earnings, while power generation contributed P2.7 billion or 27 percent, and the remaining 15 percent came from retail electricity and other non-power activities.
Meralco’s total reported net Income also rose by 19 percent to P9.6 billion, with the gap between core and reported net income reflecting adjustments such as "Day 1" gain amortization.
Despite a slight decline in total revenues to P104.5 billion due to reduced energy costs and lower pass-through charges, Meralco's strategic diversity boosted its financial performance during the period.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
