Energy Development Corp. said Friday consolidated recurring net income attributable to equity holders of parent First Gen Corp. rose 14 percent in the first quarter to P2.5 billion from P2.2 billion in the same period last year.
EDC said in a statement to the stock exchange the increase in core net income was led by higher energy sales of the Bacman geothermal plants and the newly-commissioned Nasulo geothermal project.
EDC said inclusive of non-recurring items, consolidated net income attributable to equity holders of the parent rose 4 percent to P2.5 billion from P2.4 billion a year ago.
