Petron Corp. said consolidated revenues rose 35 percent to P291.57 billion in the first nine months of 2021 from P216.43 billion in the same period in 2020.
Consolidated net income hit P4.99 billion, reversing the P12.6- billion net loss it incurred in the same period last year.
Consolidated sales reached 59.2 million barrels which matched last year’s level of 59.5 million barrels.
“We continue to prioritize volume recovery through programs that will not only help us generate more volumes but also reward loyal customers. We have recently concluded the third wave of our Panalo Bakunado promo where we gave discounts in the form of loyalty points to vaccinated motorists aside from our already existing programs like the Super Driver Card which provides direct benefits to public transport drivers,” said Ramon Ang, Petron’s president and chief executive officer, in a statement.
Ang added that Petron’s better financial performance is expected with continuing strategic investments in service station expansion, refinery enhancements and supply chain management.
