Renewables, oil pull down PetroEnergy profit
May 17, 2025
PetroEnergy Resources Corp. (PERC), the listed energy arm of the Yuchengo Group of Companies, registered a 12.7-percent slash in its bottom line. This was attributed to clean power expenses and lower oil production.
In a disclosure Friday, PERC said consolidated net income dropped to P280.8 million from P321.72 million a year ago.
Net income attributable to equity holders of the company likewise fell to P143.46 million. This was down 22 percent from P185.52 million.
