K-Electric posts Rs4bn profit in FY24

MG News | September 23, 2025 at 04:22 PM GMT+05:00

0:00

September 23, 2025 (MLN): K-Electric Limited (PSX: KEL) has reported its financial results for the year ended June 30, 2024, showing a significant turnaround from the previous year.

The company posted a profit after tax of Rs4.24 billion, compared to a massive loss of Rs39.48 billion in the preceding year.

This positive shift is also showed in the company's earnings per share (EPS), which rebounded to Rs0.15 from a negative Rs1.43 in FY23.

The dramatic improvement in the company's financial health was driven by an increase in top-line revenue.

K-Electric's total revenue for the year stood at Rs615.87bn, an 18.50% increase from Rs519.73bn in the previous year.

Despite a 4.05% decrease in the consumption of fuel and oil to Rs201.27 billion, the overall cost of sales rose by 5.11% to Rs484.47bn.

Still, the higher revenue led to a substantial jump in gross profit, which surged by 123.38% to Rs131.41bn from Rs58.82bn in FY23.

The company's performance was also bolstered by a surge in "Other income," which increased by 59.04% to Rs20.05bn from Rs12.61bn last year.

Conversely, finance costs saw a significant increase of 64.25% to Rs56.78bn.

After accounting for all income and expenses, the company's profit before taxation was Rs25.84bn, a remarkable recovery from a loss of Rs36.33bn in FY23.

However, taxation charges saw a massive increase of 577.83% to Rs21.57bn, which moderated the final profit for the year.

CONSOLIDATED STATEMENT OF PROFIT OR LOSS FOR THE YEAR ENDED JUNE 30, 2024(Rs.000)
Descriptions	2024	2023	Change%
Net revenue	557,116,789	382,824,912	45.53%
Tariff adjustment	58,757,850	136,907,413	-57.08%
Total Revenue	615,874,639	519,732,325	18.50%
Purchase of electricity	(245,809,973)	(223,159,922)	10.15%
Consumption of fuel and oil	(201,269,683)	(209,759,088)	-4.05%
Expenses incurred in generation, transmission and distribution	(36,709,593)	(27,757,862)	32.25%
Other cost of sales	(680,154)	(230,561)	195.00%
Total Cost of Sales	(484,469,403)	(460,907,433)	5.11%
Gross Profit	131,405,236	58,824,892	123.38%
Consumers services and administrative expenses	(34,454,637)	(27,560,569)	25.01%
Impairment loss against trade debts and other receivables	(32,386,313)	(31,131,302)	4.03%
Other operating expenses	(1,995,241)	(14,501,250)	-86.24%
Other income	20,050,466	12,607,539	59.04%
PROFIT / (LOSS) BEFORE FINANCE COST	82,619,511	(1,760,690)
Finance cost	(56,784,160)	(34,572,689)	64.25%
PROFIT/ (LOSS) BEFORE INCOME TAX AND MINIMUM TАХ	25,835,351	(36,333,379)
Minimum tax	(21,571,933)	(3,182,496)	577.83%
PROFIT(LOSS) REFORE INCOME TAX	4,263,418	(39,515,875)
Taxation	(19,483)	39,795
PROFIT / (LOSS) FOR THE YEAR	4,243,935	(39,476,080)
EARNING / (LOSS) PER SHARE - BASIC AND DILUTED (Rupees)	0.15	-1.43

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