BPC nets a tidy profit despite blackouts

The struggling utility paid Government a dividend of P27.8 million, being 25 percent of net profit. However, operating loss deteriorated by 35 percent mainly due to escalating input costs, which went up by 18.7 percent against 17.4 percent of the total operating income, says BPC in its 2008 Annual Report.

The power parastatal incurred a loss of P85.8 million in operations, compared with a projected near break-even. Against this background, investment income has continued to support and sustain BPC.