Semirara Mining and Power Corp. recorded a 24-percent increase in net income after tax in the first half to P7.86 billion from P6.36 billion in the same period last year, on higher coal and electricity sales.
Semirara said in a disclosure to the stock exchange that its coal business contributed P4.23 billion. Sem-Calaca Power Corp. and Southwest Luzon Power Generation Corp. added P2.14 billion and P1.50 billion, respectively.
“Before eliminations, coal, Sem-Calaca, and SLPGC recorded core net income after tax of of P5.32 billion, P1.15 billion, and P1.40 billion, respectively,” the company said.
Sem-Calaca owns the 600-megawatt coal-fired power plant in Calaca, Batangas which the Consunji Group acquired from the government in July 2009. SLGPC owns the 300-MW coal plant expansion also in Calaca.