K-Electric announced Financial Results for the year ended June 30, 2016.
The company’s Revenue for the period increased by 12 percent in the outgoing year, whereas the Profit after Taxation for the Period increased 16 percent.
The board has recommended no Cash Dividend, bonus shares or right shares.
Comparison of Key Financials:
Financial Results – For the Year Ended
Key Financials
June 30, 2016
June 30, 2015
% Change
Revenue
166,747,750
148,514,246
12%
Sale of energy – net
22,880,854
41,844,708
-45%
Tariff Adjustment
189,628,604
190,358,954
0%
Cost of Sales
Purchase of electricity
54,309,231
71,844,708
-24%
Consumption of fuel and oil
57,266,315
59,950,311
-4%
Expenses incurred in generation, transmission and distribution
19,876,732
15,657,684
27%
Gross Profit
58,176,326
43,263,810
34%
Services and Administration expenses
30,714,925
21,738,496
41%
Other operating Expenses
3,120,463
3,021,952
3%
Other Income
6,660,303
6,332,850
5%
Profit before Finance Cost
31,001,241
24,836,212
25%
Finance Cost
5,099,520
9,759,729
-48%
Profit before Taxation
25,901,721
15,076,483
72%
Taxation
6,855,908
13,248,228
-48%
Net profit for the year
32,757,629
28,324,711
16%
Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)
