K-Electric Posts Rs4.13bn Profit Amid Challenging FY24

K-Electric

KARACHI: K-Electric (KE) reported an unconsolidated profit after tax (PAT) of Rs4.13 billion for the fiscal year ended June 30, 2024, despite persistent macroeconomic challenges. The company’s Board of Directors approved the results in a meeting held on Tuesday.

Pakistan’s economy recorded a modest GDP growth of 2.51% in FY24, but high inflation and elevated policy rates weighed heavily on the power sector. KE’s operational performance was impacted, with aggregate technical and commercial (AT&C) losses rising by 1.8 percentage points. The company achieved a 3.56% return on equity and 0.87% return on property, plant, and equipment.

During the year, KE enhanced its generation and transmission capacities. The addition of the 900MW BQPS-III plant lifted fleet gross efficiency to 49.5%, while new transformers raised transformation capacity to 7,095 MVA. Interconnections with the National Grid at 500kV KKI and 220kV Dhabeji-2 also boosted drawl capacity to 2,000MW by August 2025, strengthening supply reliability.

On the distribution side, higher tariffs and inflationary pressures reduced recovery ratios to 91.5% from 92.8% a year earlier. KE intensified anti-theft operations, removing over 350,000 kilograms of illegal connections and conducting 30,000 drives.

The company said it remains focused on operational improvements, theft reduction, network expansion, and electrification initiatives, expressing optimism that improving macroeconomic conditions in FY25 will support stronger performance.

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