Semirara’s Q1 profit up slightly to P4.57-billion

Semirara Mining and Power Corp. on Friday reported a consolidated net income after tax of P4.57 billion in the first quarter of 2018, three percent higher than P4.42 billion in the same period last year.

Semirara disclosed to the Philippine Stock Exchange a strong coal segment results offset the drop in the power generation business during the first three months.

The company said that net of eliminations, the coal business, SEM-Calaca Power Corp. and Southwest Luzon Power Generation Corp. contributed P3.58 billion, P589 million and P407 million, respectively during the first quarter. 

Semirara said coal production from the Antique mining operations reached 4.1 million tons, three percent higher on year. 

“Local demand surged 27 percent on the back of higher requirements from its domestic customers. But with lower export sales, total coal sales for the quarter decreased by five percent to 3.4 million tons from 3.6 million tons in the same period last year,” the firm said. 

Topics: Semirara Mining and Power Corp. , Philippine Stock Exchange , SEM-Calaca Power Corp. , Southwest Luzon Power Generation Corp.
COMMENT DISCLAIMER: Reader comments posted on this Web site are not in any way endorsed by Manila Standard. Comments are views by readers who exercise their right to free expression and they do not necessarily represent or reflect the position or viewpoint of While reserving this publication’s right to delete comments that are deemed offensive, indecent or inconsistent with Manila Standard editorial standards, Manila Standard may not be held liable for any false information posted by readers in this comments section.
AdvertisementSpeaker GMA