Net earnings, however, climbed 19 percent from the preceding quarter's P4.7 billion and nearly doubled the P2.9 billion booked in the first quarter of 2019, the listed holding firm said in a stock exchange filing.In the first three months of the year, consolidated revenues slipped 17 percent to P27.4 billion from P33 billion, following lower contributions from the majority of the group's businesses.
Contribution from affiliate Maynilad also rose, by 28 percent to P664 million from P519 million, due to increased billed volume, improved customer mix, and a better average effective tariff.Coal miner Semirara Mining and Power Corp. saw its first-quarter net income decline 27 percent to P3.5 billion from P5.1 billion despite increased coal shipments and electricity dispatch as market prices weakened.
Cites Prices As Profits Plunge
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