BREAK: Manila Water Q1 profit falls 27%

Manila Water’s net income for the first quarter fell by 27 percent year-on-year to ₱1.23 billion this year, mainly due to the impact of the water supply shortage in its Metro Manila concession.

In a statement, the company said that as of May 8, it has achieved 98 percent water availability of at least 8 hours at 7 psi, at ground-floor level.

Also, close to three-fourths of the East Zone concession now has 24-hour water availability at 7 psi.  /muf