Semirara 1st-half profit plunges 34% to P12.6B

By Earl John Alfaro

Aug 03, 2024 12:24 am

SEMIRARA Mining and Power Corp. (SMPC), a subsidiary of DMCI Holdings, saw net income for the first half drop 34 percent to P12.59 billion, from P19.21 billion in the same period last year, amid higher production costs and lower selling prices of coal and electricity.

In a stock exchange filing on Friday, the company said that revenues in the first six months of 2024 also fell 18 percent to P36.59 billion from P44.57 billion.

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