Lorenzo Shipping Corporation (LSC) reported a net income of P42.7 million in the first quarter, which was a remarkable improvement from a P32.7 million net loss in the same period a year ago.
LSC's net income for the three months ended March 31, 2021, went up by P75.4 million. The company posted a net 'other income' of P18 million, higher by P13 million than the same period in 2020, due to proceeds from service recoveries and insurance.
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