Basic Energy Corp. announced audited consolidated earnings results for year ended December 31, 2016. For the period, the company has reported loss before income tax was PHP 120,818,853 against profit of PHP 1,985,092 a year ago. Net loss was PHP 124,460,312 or PHP 0.030 per share against profit of PHP 1,188,323 or PHP 0.002 per share a year ago. Net loss attributable to parent - equity holder was PHP 75,648,092 against profit of PHP 5,444,815 a year ago. Net cash used in operating activities was PHP 417,475,597 against PHP 52,862,641 a year ago. Addition to property and equipment was PHP 1,416,066 against PHP 567,715 a year ago. Book value per share as at December 31, 2016 was PHP 0.26.