Petron 1H income reaches P1.1 billion

Although the year-on-year profit of Petron Corp. clearly surged, the P1.1-billion net profit it registered during the first half of this year is not at par with the P2.2 billion it earned in the first quarter.

Petron said in a statement on Tuesday that it posted a “relatively modest performance” and recorded a net profit of P1.1 billion for the first half, which is better than the P183 million posted over the same period last year.