Maynilad Water Services Inc. reported a 10% increase in net income for the first quarter, reaching P4 billion from P3.6 billion a year earlier, driven by higher billed volume and an expanding customer base.
The Pangilinan-led utility saw revenues rise 6.2% to P9.1 billion from P8.6 billion, while earnings before interest, taxes, depreciation, and amortization stood at P6.5 billion.
"Our first quarter results reflect steady execution across both our operations and investment programs," said Maynilad president and CEO Ramoncito Fernandez. "We continue to see improvements in service reliability and water availability, while sustaining strong financial performance."
The company serves water and wastewater services to over 10 million people in the West Zone of Metro Manila and Cavite province.