Manila Electric Co. (Meralco) reported on Tuesday that its consolidated net income increased by 13 percent to P23.1 billion last year from P20.5 billion in 2017, despite economic challenges.

During a briefing at its main office in Pasig City, the listed power titan said its consolidated core net income reached P22.4 billion in 2018, a 11-percent growth from P20.2 billion the year before.

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