LISTED Manila Water Co. Inc.’s net income rose to P6.5 billion in 2018 on the back of higher tariff rates and market expansion.

In a disclosure, the Ayala-led water provider for eastern Metro Manila and Rizal province said the amount was a 6-percent increase from P6.1 billion in 2017, adding that the growth “was driven largely by the steady performance of [its] Manila concession, bolstered by the approval of its positive tariff adjustment and business plan.”