NLEX Corp. said net income rose 9.6 percent in the first quarter of 2019 on higher vehicle traffic at North Luzon Expressway and Subic-Clark-Tarlac Expressway.
The operator of NLEX posted a net profit of P1.4 billion in the January-to-March period from P1.2 billion in the same period last year.
The company’s first-quarter revenues increased 8 percent to P3.50 billion from P3.23 billion recorded during the first quarter of 2018.
Operating revenues were derived mainly from toll in NLEX and SCTEX.
The average daily traffic for the NLEX reached 265,225 vehicle entries, higher by 6 percent on year, while athe verage daily traffic in SCTEX reached 68,805, up 15 percent.
“The full impact of the toll adjustment that took effect last March 21, 2019 is expected to appear in the next quarter results,” said NLEX.
The Toll Regulatory Board in March allowed NLEX to collect P10 in additional toll in the open system and P0.18 per kilometer in the closed system, respectively.
In addition to toll revenues, the company generated revenues arising from advertising, toll services and utility facilities and rental and service income for the first quarter of 2019 amounting to P72.3 million, up 67 percent P43 million posted on year.
NLEx spans 95 kilometers, or 527-lane kilometers, and serves an average of 237,046 vehicles a day. It is the main infrastructure backbone that connects Metro Manila to Central and Northern Luzon.
NLEX holds the concession to manage, operate and maintain SCTEx, a 93.77-km four-lane highway, traversing the provinces of Bataan, Pampanga and Tarlac.
The management, operation, and maintenance of SCTEX was turned over by BCDA to NLEX in 2015.