METRO PACIFIC Investments Corp. (MPIC) reported a 5% increase in first-quarter (Q1) core net income to P6.9 billion from P6.6 billion a year earlier, driven mainly by stronger contributions from its power and healthcare segments, which offset weaker water earnings following the dilution of its stake in Maynilad Water Services, Inc.
In a statement on Tuesday, the infrastructure conglomerate said contribution from operations rose 4%, supported primarily by higher generation output from its power business and increased patient volumes in its healthcare segment.
The company said lower water contribution partly offset these gains after the dilution of its ownership in Maynilad following the utility’s listing in November last year.
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