Trans-Asia Q1 profit swells to P265M from P65M

TRANS-ASIA Oil and Energy Development Corp. (TRANS-ASIA), the energy arm of the PHINMA group, posted a consolidated net income of P265 million in the first quarter of this year, more than four times the P65 million recorded during the same period last year.

In a disclosure to the Philippine Stock Exchange (PSE) on Wednesday, Trans-Asia said revenue was boosted by a 26 percent increase in electricity sales volume, with revenues for the first three months of the year hitting P3.13 billion, up 7 percent from last year’s comparative figure of P2.9 billion.