Synergy Grid & Development Phils., Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 13, 2023 at 07:47 pm EDT
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Synergy Grid & Development Phils., Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was PHP 13,126.39 million compared to PHP 23,331.26 million a year ago. Net income was PHP 2,703.3 million compared to PHP 6,601.2 million a year ago. Basic earnings per share from continuing operations was PHP 0.51 compared to PHP 1.25 a year ago. Diluted earnings per share from continuing operations was PHP 0.51.
For the six months, sales was PHP 26,495.37 million compared to PHP 35,513.98 million a year ago. Net income was PHP 5,811.09 million compared to PHP 8,978.98 million a year ago. Basic earnings per share from continuing operations was PHP 1.1 compared to PHP 1.71 a year ago. Diluted earnings per share from continuing operations was PHP 1.1.
Synergy Grid & Development Phils., Inc. is a Philippines-based holding company. The Company is engaged in general construction and other allied businesses. The Company operates through transmission business segment. The Company operates through its transmission services across Luzon, Visayas, and Mindanao. The Company's subsidiaries include OneTaipan Holdings, Inc. (OTHI), Pacifica21 Holdings, Inc. (P21), Monte Oro Grid Resources Corporation (MOGRC), Calaca High Power Corporation (CHPC), and National Grid Corporation of the Philippines (NGCP). The CHPC engages in the general business of operating, managing, maintaining, and rehabilitating energy systems and services from gas, steam, and electricity including related services and business activities. The NGCP operates and maintains a nationwide transmission grid throughout the Philippines to provide open and non-discriminatory access to the transmission system to all authorized electricity distributors and electricity users.
SYNERGY GRID & DEVELOPMENT PHILS., INC. 
