DMCI Power earnings slide on ITH expiration

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Off-grid power provider DMCI Power Corp. (DPC) recorded a slightly lower earnings in the first half of the year after the expiration of its income tax holiday (ITH) for its Masbate operations in September 2016. DPC reported a net income of P228 million on a standalone basis, 5 percent lower from a year ago. Earnings before interest, tax, depreciation, and amortization climbed 15 percent to P379 million. DPC said that growth in energy sales in Masbate and Palawan, and the commercial operations of its bunker-fired power plant in Aborlan, Palawan alleviated the impact of the ITH expiration.

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