Semirara Q2 income climbs 17% as power offsets weaker coal

Semirara Mining and Power Corp. (SMPC) posted a 17% increase in second-quarter net income to P4.8 billion, as stronger earnings from its power business offset weaker contributions from coal operations, according to a report by BusinessWorld.

Revenue grew 25% to P18.60 billion from P14.82 billion a year earlier, driven by higher coal and electricity selling prices. The Consunji-led company’s coal segment was hampered by weaker volumes or prices, while its power unit provided a buffer to overall profitability.

SMPC, one of the Philippines’ largest coal producers and power generators, continues to benefit from elevated electricity demand. Its integrated operations allow it to balance fluctuations in the coal market, the report said.