ATN Holdings, Inc. incurred a P2.56-million net loss for the third quarter of its fiscal year that ends on March 31 despite higher revenues.
In a regulatory filing on Thursday, the company said its net loss for the October-to-December period is a reversal of the P3.57-million net income it had in 2019.
Its revenues for the quarter reached P78.68 million, higher than the P11.41 million it posted in 2019.
For a nine-month period, ATN Holdings disclosed a P4.70-million net loss, reversing the P1.28-million net income it posted in 2019.
The company’s revenues for the April-to-December period rose to P87.16 million compared with P31.69 million in the previous year.
ATN Holdings said no foreseeable event would have a material impact on its short-term liquidity.
“With the company’s sound financial condition, ATN can ride the coronavirus disease 2019 (COVID-19) pandemic,” the disclosure said.
“The company expects to continue its focus on its existing principal activities and actively pursue opportunities for investment in the construction materials supply business and renewable energy sectors in the Philippines,” it added.
ATN Holdings previously disclosed that it secured an environmental compliance certificate (ECC) from a unit of the Department of Environment and Natural Resources for its 82-hectare integrated aggregates project in Rodriguez, Rizal.
The ECC covers an annual extraction rate of 7 million dry metric tons (DMT) of aggregates in the project area.
In a separate disclosure, ATN Holdings said it was planning to supply more rock aggregates to the 38-kilometer segment of the North-South Commuter Railway that spans from Tutuban, Manila to Malolos, Bulacan. This is after the company announced that it received additional purchase orders for the project.
ATN operates rock extractions facilities and has business interests in real estate and renewable energy.
On Thursday, ATN “A” shares at the stock exchange fell 4.17% or P0.04 to close at P0.92 apiece, while ATN “B” stocks dropped 3.16% or P0.03 to end at P0.92 each. — Revin Mikhael D. Ochave