MANILA Water Co. Inc. on Tuesday reported a consolidated net income to P1.3 billion in the first quarter of 2021 on the account of lower contribution from domestic operations. It was 8 percent lower than the P1.4-billion net income recorded in the same period a year ago. The listed firm noted that 80 percent of its operating revenues came from the sale of water, while 16 percent came from the environmental and sewer charges. Consolidated earnings before interest, income taxes, depreciation and amortization fell by 5 percent to P3.2 billion. It was also affected by Boracay Island Water Co.’s lower net income, Estate Water’s lower contribution, higher financing costs of MWPV’s core subsidiaries, and higher depreciation and amortization expenses due to capital expenditures spent.

Source: Manila Times May 11, 2021 16:30 UTC