KARACHI: The K-Electric Limited (KEL) has posted 40 percent increase in its profits during the nine months ended March 31, 2016.
In its financial results issued to the PSX, KEL declared profits of Rs22.79 billion during the period as compared to Rs16.28 billion during the same period of the last year. The company’s earnings per share (EPS) also increased to 83 paisas as compared to 59 paisas.
Sale of energy increased to Rs118.25 billion against Rs104.77 billion, gross profits were recorded at Rs133.08 billion as compared to 139.35 billion after adjustment of Rs14.83 billion in the tariff adjustment account against Rs34.57 billion of the last year. A decline in the fuel prices increased the profit margins of KEL, while total expenses on purchase of energy and consumption of fuel fell by 16 percent at Rs80.54 billion as compared to Rs96.23 billion last year.
Other income of KEL remained at Rs4.03 billion against Rs4.58 billion. For the quarter ended March 31, 2016, the profits of the company increased to Rs3.80 billion from Rs3 billion in the same quarter of FY15.
