Metro Pacific Investments Corp. (MPIC) reported a five percent increase in first-quarter core profit as robust demand for power and healthcare services offset higher interest expenses and the diluted stake in its water utility.

Manuel V. Pangilinan, MPIC chairman, president, and chief executive officer, said the infrastructure conglomerate posted consolidated core net income of ₱6.9 billion for the three months of 2026, up from ₱6.6 billion a year earlier.

However, net income attributable to the parent company declined during the period, primarily because the 2025 results were bolstered by a one-time gain from the sale of Philippine Coastal Storage and Pipeline Corp.

But contribution from operations rose four percent, fueled by higher power generation output and increased patient volumes across the group’s hospital network.

“Even in a more challenging environment, demand for essential services remains steady,” Pangilinan said in a statement. “Our priority is to keep our operations running reliably and continue serving the communities that depend on us.”

Power remains the primary engine for Metro Pacific, accounting for ₱5.1 billion or 62 percent of net operating income. Units Manila Electric Co. (Meralco) saw its core profit rise two percent to ₱11.4 billion, aided by its power generation arm.

The water business, led by Maynilad Water Services Inc., contributed ₱1.5 billion to the group. Maynilad’s individual core net income surged 10 percent to ₱4 billion following a three percent tariff adjustment in January and a rise in billed volumes.

Despite the utility’s strong performance, its overall contribution to Metro Pacific was tempered by the dilution of the parent company's stake following Maynilad’s initial public offering in November 2025.

Metro Pacific Tollways Corp. saw revenues climb 14 percent to ₱9.9 billion as traffic grew across most of its regional network.

Average daily vehicle entries in the Philippines rose two percent to 730,640, while Indonesian traffic increased three percent. However, the toll road unit's bottom line remained flat as the earnings boost from its increased ownership in the North Luzon Expressway was neutralized by higher depreciation and borrowing costs.

The company remains focused on cost discipline and operational execution to navigate elevated energy prices. “If we stay focused on execution and service, we are confident our businesses will remain resilient,” Pangilinan said.