Alsons Consolidated Resources Inc. reported on Thursday that its consolidated net income grew to P310.5 million in the first three months of 2020. In a disclosure, the listed firm of the Alcantara Group said the amount was up 197.5 percent from P104.4 million in the same period a year ago. It also said its consolidated revenues surged by 80.9 percent to P2.21 billion from P1.22 billion in 2018. The company attributed the earnings growth primarily to the continued operations of its power plants. Full operations of the Sarangani Energy Corp.’s 210-megawatt (MW) coal-fired baseload power plant in Maasaim town, Sarangani province remains to be a major revenue driver, while the 100-MW diesel plant of the Western Mindanao Power Corp. in Zamboanga City and other diesel plants under the company’s portfolio also contributed to its bottomline. Alsons shares gained 11 centavos or 12.09 percent to end at P1.02 each on Thursday.
