Sharp drop in coal prices slashes 2023 profit of SMPC : vima

Sharp drop in coal prices slashes 2023 profit of SMPC

Consunji-led integrated energy company Semirara Mining and Power Corp. (SMPC) reported a 30-percent decline in net income last year to P27.9 billion, from P39.9 billion in 2022, due to lower coal shipments and selling prices. Revenues fell by 16 percent to P76.96 billion in 2023 from P91.13 billion in 2022…

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