DMCI Power posts flat elec­tric­ity sales vol­ume

Business World - - CORPORATE NEWS - Vic­tor V. Saulon

CONSUNJI-LED DMCI Power Corp. said re­duced en­ergy dis­patch to Min­doro and Palawan re­sulted in “flat” elec­tric­ity sales vol­ume at 181.43 gi­gawatt-hours (GWh) from Jan­uary to Septem­ber.

In a dis­clo­sure to the stock ex­change, its par­ent firm DMCI Hold­ings, Inc. said the off-grid en­ergy sup­plier reg­is­tered an 18% in­crease in con­sol­i­dated rev­enues dur­ing the nine-month pe­riod to P2 bil­lion from P1.7 bil­lion.

Net in­come slipped by 5% to P324 mil­lion from P341 mil­lion af­ter the ex­pi­ra­tion of DMCI Power’s in­come tax hol­i­day (ITH) for its Mas­bate oper­a­tions in Septem­ber 2016.

“De­spite our flat­tish sales and ITH ex­pi­ra­tion, our prof­itabil­ity re­mains strong. Our pre-tax earn­ings ac­tu­ally grew 11% year on year,” said DMCI Power Pres­i­dent Nestor D. Dadi­vas in a state­ment.

The com­pany said en­ergy sales to Palawan Elec­tric Co­op­er­a­tive slipped by 1% to 69.32 GWh from 69.96 GWh, while vol­ume sales to Ori­en­tal Min­doro Elec­tric Co­op­er­a­tive shrunk 6% to 38.38 GWh from 40.98 GWh.

Of DMCI Power’s mar­ket, only Mas­bate recorded growth, as sales vol­ume to Mas­bate Elec­tric Co­op­er­a­tive grew, although at a mod­est 4% to 73.73 GWh from 70.82 GWh. —

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