Plant shutdown slashes Semirara’s income

SEMIRARA Mining and Power Corp. posted a consolidated net income after tax of P2.33 billion, 49 percent lower than P4.57 billion in the same period a year earlier as some of its power plants went offline.

In a disclosure on Tuesday, the listed firm said the coal segment contributed P2.13 billion while Southwest Luzon Power Generation Corp. (SLPGC) added P226.10 million during the period. However, SEM-Calaca Power Corp. (SCPC) incurred a net loss of P22.37 million.