KARACHI: The K-Electric Limited has posted 120 per cent increase in profit as it earned Rs28.324 billion during the fiscal year 2014-15 against the previous year’s Rs12.887 billion.
According to the company officials, the K-Electric reduced transmission and distribution losses by 1.6 percent in FY15 as low-loss consumer categories were increased. As per the official statement to Karachi Stock Exchange, the company’s earnings per share (EPS) of Rs1.03 in the outgoing fiscal year as compared to 47 paisas in the previous year. K-Electric, however, did not announce any payouts along with the corporate earnings.
Sales revenues stood at Rs148.514 billion in FY15 as compared to Rs139.112 billion in FY14, resulting in gross profit of Rs43.263 billion, 34.35 percent higher than Rs32.2 billion in the previous year.
Consumption of fuel oil declined by 6.81 percent to Rs59.95 billion in the year under review as compared to Rs64.335 billion in the previous year. The company’s finance cost in FY15 stood at Rs9.759 billion in FY15 from Rs9.575 billion in FY14.
