The after tax loss of Karachi Electric Supply Company Limited (KESC) has increased to Rs 6.587 billion in the quarter ended September 30, 2008 as compared to Rs 4.717 billion in the corresponding period last year. The board of directors of the company declared that the loss per share increased to Re 0.50 in the period under review against Re. 0.37 in the same period a year back.
According to the financial results, the company net loss had increased to Rs 16.071 billion (loss per share Rs 1.22) in the year ended June 30, 2008 against Rs 12.175 billion (loss per share Re. 0.92) in the same period last year.
The company's net sale of energy increased to Rs 16.271 billion in the three month period ended September 30 against Rs 13.704 billion in the same period last year while the company's revenue from rental of meters and equipment stood at Rs 51.112 million against Rs 50.049 million.
The company's expenditures in purchase of electricity increased to Rs 11.149 billion against Rs 8.971 billion and consumption of fuel and oil increased to Rs 11.547 billion against Rs 9.667 billion.
Tariff adjustment on account of increase in fuel prices and cost of power purchase increased to Rs 4.161 billion against Rs 4.007 billion. Expenses incurred in generation, transmission and distribution stood at Rs 2.604 billion against Rs 2.332 billion. The finance cost increased to Rs 704.146 million against Rs 444.600 million.