PERC income falls to P321.7M

By Ed Paolo Salting

May 16, 2024 12:21 am

PETROENERGY Resources Corp. (PERC) saw its consolidated net income drop to P321.73 million in the first quarter from P339.69 million in 2023 due to higher financing costs.

PERC said in a statement on Wednesday that this was driven by direct stake acquisitions consisting of EEI Power Corp.'s 20-percent interest in PetroWind Energy Inc. (PWEI), 44-percent interest in PetroSolar Corp. (PSC), and 7.5-percent interest in PetroGreen Energy Corp. (PGEC).

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