The Board of Directors of K-Electric Limited in its meeting held on September 18, 2019 at KE head office, approved the Company's financial results for the year ended 30 June 2018. During the reporting period, over PKR 44 billion has been invested in generation, transmission and distribution while KE's key financial and operational indicators registered sustained progress, and is geared up to further move up the improvement trajectory on the back of a robust investment plan.
In its financial results issued to the PSX, KE declared profits of PKR 12.3 billion as compared to PKR 10.4 billion during the same period of FY 2017 resulting in earnings per share (EPS) increasing to 0.45 rupees per share in FY18 from 0.38 rupees per share in FY17. The reduction in T&D losses from 21.7% in FY2017 to 20.4% in FY2018 along with higher units sent-out (16,580 GWh in FY 2017 to 17,419 GWh in FY 2018) have been the major contributing factors towards improved financial results. In recognition of the power utility's improved performance and its investment plan across all business verticals, the Board also decided to reinvest the profit earned in the business. Moreover, KE's balance sheet remains healthy, with total assets amounting to PKR 474 billion in FY 18 as compared to PKR 396 billion in FY 17.-PR
Comments
Comments are closed.