ACEN profit zooms to P8 B in 9 months

The earnings of Ayala-led ACEN Corp. heated up from January to September on the back of a robust renewable energy (RE) output both in the Philippines and abroad.

- By BRIX LELIS

In a regulatory filing on Thursday, the company reported a 24-percent increase in attributable net income to P8.14 billion from the same period last year's P6.6 billion.

Despite seasonal decline for both solar and wind energy sources, ACEN's attributable RE generation grew by 31 percent, which paved the way for a stronger net selling position in the power spot market.

Revenues, on the other hand, marginally declined to P28 billion from P28.6 billion, which was offset by lower costs and expenses during the period.