SunStar Publishing Inc.
INTEGRATED energy firm Semirara Mining and Power Corp. saw a 37 percent drop in net income in the first nine months of the year to P22.6 billion from P35.9 billion, mainly due to lower coal shipments and selling prices.For the third quarter alone, SMPC’s net income plunged 66 percent to P3.4 billion from P10.1 billion.From January to September, the average selling price of Semirara coal fell 23 percent to P4,042/metric ton from P5,224/MT on stabilizing index prices.
Nine-month coal production fell 14 percent from a record high 13.7 million metric tons to 11.8 MMT due to higher stripping activities in the Molave and Narra mines, causing coal shipments to drop 12 percent to 10.5 MMT from 11.9 MMT.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Semirara’s nine-month income dropped 37%Defining the News
Read more »
San Francisco celebrates Fil-Am History MonthSan Francisco Mayor London Breed said she is grateful for the contributions of the Fil-Am community to the city.
Read more »
Nvidia shares drop to 5-month-low after report of canceled China ordersA Nvidia spokesperson says there is 'high demand' for its advanced chips and it is working to allocate orders to its 'wide range of customers' in the US and elsewhere
Read more »
LISTEN: On My Playlist – October 2023This month’s playlist includes song recommendations from Maki, YSANYGO, and Kio Priest
Read more »
PNVF holds full-packed Challenge Cupon Monday at Rizal Memorial ColiseumTHE Philippine National Volleyball Federation (PNVF) holds the Challenge Cup that’s bursting at the seams with 37 teams—20 men and 17 women—starting on Monday (November 6) at the Rizal Memorial Coliseum.
Read more »