By Lenie Lectura - August 15, 2018
PHINMA Energy Corp. posted a net
loss of P76.40 million in the first half of the year, a reversal from the
P298.17-million net income it posted in the same period a year ago, mainly due
to the continued low prices in the competitive energy-supply market, as well as
higher costs resulting from excise taxes imposed by the TRAIN law.
Revenues for the period declined to
P8.12 billion at end-June this year, from P8.31 billion in the same period last
year. It recorded P4.41 billion in revenue for the second quarter and a net
loss of P116.75 million from April to June this year.
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