Meralco H1 net income drops 8% to P10.8B

Manila Electric Co. (Meralco), the country’s largest power distributor, reported its net income for the first half of 2016 declined 8 percent year-on-year, falling to P10.8 billion from P11.7 billion in first half of 2015.

The company’s consolidated revenue also declined, slipping 4 percent in the six months ending June 30 to P128.8 billion from P134 billion in the same period a year earlier.