NLEX Corp. said over the weekend net income rose 44 percent in the first quarter from a year ago on the back of higher toll revenues and better cost efficiencies.
The operator of North Luzon Expressway and Subic Clark-Tarlac Expressway posted a net income of P1.5 billion from January to March, up from P1.05 billion it earned in the same period last year.
NLEX revenues amounted to P3.9 billion, or 13 percent higher than 2021 figures on higher traffic volume and the impact of toll rate adjustment implemented in May 2021.
The adjustments in May 2021 were related to the third tranche of the 2012 and 2014 toll rate petitions while the November 2020 adjustments included the add-on toll for Segment 10: C3-R10 Section and the second tranche of NLEX 2012 and 2014 petitions. Darwin G. Amojelar
The average daily traffic along NLEX reached 267,905 daily vehicle entries, higher than 2021 figures by 4 percent, while average daily traffic in SCTEX reached 65,154 daily vehicle entries or 17 percent above last year’s figures.