Lower power prices weigh on PHINMA Energy profit

Listed PHINMA Energy Corp. (PHEN) reported a net income of P298 million for the first six months of the year, down 45 percent from P541.5 million last year, on lower electricity prices.

The company told the local bourse on Tuesday that net income attributable to equity holders of the parent company touched P300.3 million in the first half, down from P543.3 million in 2016.