AngMinero
  • Home
  • News
  • Features
  • Business
No Result
View All Result
AngMinero
  • Home
  • News
  • Features
  • Business
No Result
View All Result
AngMinero
No Result
View All Result
Home Business

Semirara reports 244% profit surge in first 9 months

It even exceeded its pre-pandemic annual net income.

AngMinero News by AngMinero News
November 2, 2021
in Business, News
26 2
0
DOE investigates SMPC incident in Antique

Photo from BusinessWorld | bworldonline.com

84
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

Consunji-led Semirara Mining and Power Corporation (SMPC) reported a 244% surge in net income for the first nine months of the year from Php3 billion in 2020 to P10.3 billion in 2021, exceeding its pre-pandemic annual net income of Php9.7 billion.

SMPC said the triple-digit growth was mainly attributable to the 38% rise in average selling prices and 51% upturn in sales volume of coal.

“We expect our coal segment to continue to do well for the rest of the year because of elevated coal prices and sustained strong demand from China,” said SMPC President and COO Maria Cristina C. Gotianun.

For the third quarter alone, SMPC netted Php4 billion, nearly six times the Php750 million earnings it recorded in the same period last year.

Average selling prices from July to September rallied 82% on the back of higher exports, which grew 108% year-on-year.

Global coal prices are seeing a dramatic spike this year due to severe demand and supply imbalances owing to China’s ban on Australian coal, strong rebound in economic activities, low stockpiles in China, Europe and India, COVID-19 restrictions, heavy rainfall in major coal mines and logistical disruptions.

In terms of net income contribution, coal accounted for 78% percent of SMPC’s net income while subsidiaries Sem-Calaca Power Corporation and Southwest Luzon Power Generation Corporation contributed 17% percent and 5% percent, respectively.

Tags: Philippine Stock ExchangePSESemirara Mining and Power CorporationSMPC

Related Posts

Pure Energy Group firms acquire 71.68% stake in Coal Asia for PHP220.9 million
Business

Pure Energy Group firms acquire 71.68% stake in Coal Asia for PHP220.9 million

October 7, 2025
5 ‘Minahang Bayan’ sites in Davao Region get DENR clearance for small-scale mining
News

5 ‘Minahang Bayan’ sites in Davao Region get DENR clearance for small-scale mining

October 7, 2025
OceanaGold names Brian Martin as new chairman of Philippine subsidiary
News

OceanaGold names Brian Martin as new chairman of Philippine subsidiary

October 6, 2025
Nickel Asia’s Hinatuan Mining wins Best Practices in Distribution at ASEAN Mineral Awards
News

Nickel Asia’s Hinatuan Mining wins Best Practices in Distribution at ASEAN Mineral Awards

October 6, 2025
Didipio Mine Opens DMTG Scholarship for Mining and Geoscience Students
News

Palawan mining ban stands despite DILG advisory cited in Ipilan Nickel hearing –ELAC

October 1, 2025
MGB Places Field Teams on Higher Alert for Typhoon Nando
News

MGB Trains Staff on Drone Operations to Strengthen Mining Oversight

October 1, 2025

FEATURED POST

Pure Energy Group firms acquire 71.68% stake in Coal Asia for PHP220.9 million

Pure Energy Group firms acquire 71.68% stake in Coal Asia for PHP220.9 million

October 7, 2025
5 ‘Minahang Bayan’ sites in Davao Region get DENR clearance for small-scale mining

5 ‘Minahang Bayan’ sites in Davao Region get DENR clearance for small-scale mining

October 7, 2025
OceanaGold names Brian Martin as new chairman of Philippine subsidiary

OceanaGold names Brian Martin as new chairman of Philippine subsidiary

October 6, 2025
Nickel Asia’s Hinatuan Mining wins Best Practices in Distribution at ASEAN Mineral Awards

Nickel Asia’s Hinatuan Mining wins Best Practices in Distribution at ASEAN Mineral Awards

October 6, 2025

EDITOR PICK'S

Pure Energy Group firms acquire 71.68% stake in Coal Asia for PHP220.9 million

October 7, 2025

5 ‘Minahang Bayan’ sites in Davao Region get DENR clearance for small-scale mining

October 7, 2025

OceanaGold names Brian Martin as new chairman of Philippine subsidiary

October 6, 2025

Nickel Asia’s Hinatuan Mining wins Best Practices in Distribution at ASEAN Mineral Awards

October 6, 2025

Ajoc: Caraga to lead in DOST’s push for sustainable mining practices

October 1, 2025

DOST invests PHP300M in critical minerals R&D to boost sustainable mining

October 1, 2025

SRK’s Ben Jupp: AI and machine learning to reshape mineral exploration

October 1, 2025

Recent News

Pure Energy Group firms acquire 71.68% stake in Coal Asia for PHP220.9 million

Pure Energy Group firms acquire 71.68% stake in Coal Asia for PHP220.9 million

October 7, 2025
5 ‘Minahang Bayan’ sites in Davao Region get DENR clearance for small-scale mining

5 ‘Minahang Bayan’ sites in Davao Region get DENR clearance for small-scale mining

October 7, 2025

Category

  • Business
  • Features
  • News
  • Uncategorized

Follow us

  • Setup menu at Appearance » Menus and assign menu to Footer Navigation

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In