Manila North Tollways Corp. said Monday net income climbed 32 percent in the first nine months, on higher vehicle traffic at North Luzon Expressway and Subic-Clark-Tarlac Expressway.
The operator of NLEx and SCTEx said net income reached P2.93 billion in January to September, up from P2.22 billon in the same period last year.
MNTC’s revenues increased 29 percent in the nine-month period to P7.78 billion from P6.04 billion in the same period last year amid the steady increase in traffic and strong toll revenue contribution from SCTEx operations amounting to P1.11 billion.
The average daily traffic at NLEx hit 217,191 entries in the first nine months, or 9 percent higher than the same period in 2015. Traffic at SCTEx reached 43,835 daily vehicle entries.
The company also generated rent revenue amounting to P3 million coming from the toll service facility in Valenzuela, managed by NLEX Ventures Corp.
NVC, a wholly-owned subsidiary of MNTC, is tasked to develop, fund, construct, operate and maintain any and all facilities and to provide services relating to the safety, comfort and convenience of its customers such as road users and to undertake traffic management services.
MNTC filed a petition for approval of periodic toll adjustment with the Toll Regulatory Board in September for the adjustment of the toll at NLEx and SCTEx effective Jan. 1, 2017.
Prior to this, MNTC filed an arbitration case in Singapore against the government through TRB for failure to approve toll adjustments since 2013.
