KE’s profit up by 161% on high tariff adjustment

KE’s profit up by 161% on high tariff adjustment

KARACHI: K-Electric Limited (KE), the power generating and supply company, on Thursday announced massive 161 per cent growth in net profit for quarter ended September 30, 2021, mainly surge in revenue in the shape of tariff adjustment.

The profit after tax of the KE grew by 161 per cent to Rs2.9 billion for the quarter ended September 30, 2021 as compared with Rs1.11 billion in the same quarter of the last year.

The company announced Rs0.11 as earnings per share (EPS) for the quarter under review as compared with Rs0.04.

The revenue of KE exhibited sharp growth of 33 per cent to Rs114.14 billion for the quarter ended September 30, 2021 as compared with Rs85.55 billion in the same quarter of the last year.

The sales of energy grew by 27 per cent to Rs86.92 billion for the quarter under review as compared with Rs68.40 billion in the same quarter of the last year.

In the head of tariff adjustment, the revenue of the company recorded 58.72 per cent increase to Rs27.22 billion for the quarter ended September 30, 2021 as compared with Rs17.15 billion in the same quarter of the last year.

Cost of sale grew by 36 per cent to Rs97.49 billion as against Rs71.68 billion.

Operating expenses of KE recorded a significant increase to Rs1.81 billion for the quarter ended September 30, 2021 as compared with Rs338 million in the same quarter of the last year.

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