Semirara Jan-Sept profits soared on higher coal prices, energy sales

Integrated energy company Semirara Mining and Power Corp. (SMPC) posted another record profit as its bottom line for the first nine months of the year rose by more than twofold, sustained by higher energy sales and production.

The Consunji-led led company said consolidated January to September net income increased by 250 percent to P36 billion from P10.3 billion in the same period a year prior.

This represented an increment of 122 percent from the full year P16.2 billion net income recorded in 2021.

All-time high coal production and higher spot electricity sales at elevated prices were the main drivers behind the strong financial performance for the period.

“Historically, the…

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