SMPC income up 93% to P2.3-B in first quarter

Published May 8, 2021, 6:00 AM
The consolidated net income of Consunji-led Semirara Mining and Power Corporation (SMPC) significantly climbed by 93-percent to P2.3 billion within first quarter this year versus P1.2 billion in the same period last year.
On stream of revenues, that also surged by 27-percent for the company to P9.3 billion in the first three months of 2021 as against a leaner P7.3 billion within the same stretch last year.
The coal mining segment of SMPC’s operations, in particular, had posted 16-percent year on year uptrend, with revenues rising to P7.1 billion from a year-ago level of P6.1 billion.
The firm emphasized that its sales volume had been higher by 21-percent within January-March this year to 3.9 million metric tons (MMT) vis-à-vis 3.2 million MT in a parallel quarter last year.

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