ALSONS Consolidated Resources (ACR) reported a net income of P479 million for the first quarter of 2024, which is 13 percent lower than the P542.27 million recorded for the same period in 2023.
Net earnings attributable to the parent in the first quarter of 2024 were three percent lower than the previous year, with a net profit of P151 million.
First-quarter revenues decreased by 21 percent from P3.31 billion to P2.62 billion during the same January-March period last year.
ACR is set to commence commercial operations of its 14.5-megawatt (MW) Siguil Hydro Power Project in Sarangani this year.
Additionally, the company is developing two other renewable energy projects in the Visayas and Mindanao: the 42-MW Bago Hydro Power Project in Negros Occidental and the 37.8-MW Siayan Hydro Power Project in Zamboanga. ACR is also anticipating the launch of its 95.2-megawatt In-Island Baseload Back-up Power Plant project in Barangay Imelda, Ubay Municipality in Bohol. / PR