Meralco eyes P40-billion core net income in 2024

The Manila Electric Company Inc. is optimistic about reaching a core net income of at least P40 billion in 2024, as it believes it can sustain the growth it recorded in its bottom line in the first quarter of the year.At a briefing in Pasig City, Meralco chairman and chief executive officer Manuel V. Pangilinan said the company is optimistic to sustain growth in the remaining months of the year, with its business units expected to post improvements moving forward.

047 billion the previous year, while its net income climbed by 19% to P9.758 billion and reported net income by 19% to P9.597 billion.Revenues for the quarter slipped by 1% to P104.548 billion, comprising P101.363 billion from electricity, and P3.185 billion from non-electricity. Costs and expenses fell by 5% to P93.444 billion. NOW: Manila Electric Co. holds briefing to discuss Q1 financials.Consolidated core net income up 11.5% to ?10.083B, while reported income rose by 18.9% to ?9.597B.

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