Buoyed by sustained demand for data and broadband in pandemic times, PLDT Inc. hauled in P126.6 billion revenues for the first nine months of 2020, up 9 per cent versus the same period last year. Reported income grew 23 per cent to P19.7 billion, despite losses incurred from investments like...
Metro Pacific Investments Corporation (MPIC) reported a 38 percent drop in consolidated core net income to P7.7 billion in the first nine months of 2020 from P12.5 billion in the same period last year. In a press briefing, MPIC President Jose Ma. K. Lim said the lower profit is largely...
The electricity rates to be passed on by Manila Electric Company (Meralco) in its billing this November will either be flattish or will have marginal reduction, which is a much needed relief for consumers still struggling from the pandemic woes and the damaging effects of the recent super typhoon....
Power utility giant Manila Electric Company (Meralco) will inject P50 billion worth of capital expenditures (capex) for the expansion of its distribution network as well as power generation facilities to support the country’s track into economic recovery post-pandemic. Meralco Chairman Manuel V....
As an aftermath of severe storm Quinta’s devastation, massive swath in 15 provinces groped in the dark due to power outages caused by damages in various power facilities. According to the Department of Energy, the estimated cost of damage to the power facilities of the electric cooperatives (ECs)...
Anchoring it mainly on the electricity demand slump this year because of the pandemic, power utility giant Manila Electric Company (Meralco) is targeting a leaner core net income of P21 billion this year, which is roughly 10 to 11-percent lower versus last year’s P24 billion scale of...
