Generation output boosted by the commercial operations of new solar and wind farms had prompted 27% rise in the net income of Ayala-led ACEN Corporation in the first quarter to P2.7 billion versus P2.0 billion in the same period last year. That escalation in profitability, the company emphasized,...
The upturn in sales had propelled 16 percent rise in the first quarter net income of leading player Petron Corporation to P3.93 billion from last year’s three-month outcome of P3.4 billion. Petron indicated that the profitability climb had been registered across operational chains of the...
As coal prices in the world market cooled, the net income of Semirara Mining and Power Corporation (SMPC) dropped 28% to P6.5 billion within first quarter this 2024 from a relatively robust P9.0 billion earnings in the same three-month period last year. “Global coal indices declined due to weak...
With its power generation assets as income driver, this year’s first quarter earnings of Aboitiz Power Corporation jumped by 4.0% to P7.9 billion from year-ago level of P7.5 billion within comparative period in 2023. Without the non-recurring items, the company qualified that its profits would...
Propelled by energy sales that have been escalating beyond 10% within the stretch of the sweltering El Niño weather condition, power utility giant Manila Electric Company (Meralco) is favorably looking to end the year with core income jump to P40 billion from P37.1 billion in 2023. The company’s...
The Government Service Insurance System (GSIS) reported that its profit increased by a fifth in the first three months of the year, driven by global investments. Wick Veloso, GSIS president and general manager, said that the pension fund’s net income surged by 21 percent to P37 billion in first...
Multinational subsidiary Shell Pilipinas Corporation closed 2023 with earnings slowing down to P1.2 billion compared to the previous year’s rosier bottom line of P4.1 billion. The company indicated that its financial performance last year still placed the company on a solid footing - propelling...
Ayala-led energy platform ACEN Corp. reported a drop in last year’s net income due to non-cash items in 2022. In a disclosure to the Philippine Stock Exchange on Tuesday, Mar. 12, ACE said its net income totaled P7.4 billion from January to December 2023, 43 percent lower than in 2022 including...
The consolidated net income of Razon-led Manila Water Co. Inc. dropped last year. In a disclosure to the Philippine Stock Exchange on Thursday, Feb. 29, the net income attributed to the company’s equity holders totaled P5.5 billion by yearend 2023, which is a six percent drop from its previous...
The decline in coal prices globally had prompted 30% dip in the net income of Consunji-led Semirara Mining and Power Corporation (SMPC) to P27.9 billion last year from record-high earnings of P39.9 billion in 2022. According to SMPC President and COO Maria Cristina C. Gotianun, the drop in global...
The Manila Electric Co.’s (Meralco) net income posted a double-digit surge last year, fueled by the improved power generation and retail electricity operations, as well as an uptick in energy sales through its distribution utility (DU) business. Meralco, the largest power retailer in the country,...
With sustained uptick in its energy sales, the net income of Alsons Consolidated Resources Inc. (ACR) had climbed to P1.8 billion within January to September this 2023, posting 32-percent escalation from a relatively moderate pace of P1.35 billion earnings last year. Given such uptrend in its...
