The net profit of K-Electric for the first quarter ending on March 31, 2021, jumped 221pc to Rs2.562bn from Rs797m in the same period last year, despite extensive impairment loss against trade debts during the same period.
KE’s revenue, including tariff adjustment and sale of energy, was recorded at Rs 73.66 billion for the quarter under review as opposed to Rs 62.95 billion in the same quarter of the last year.
The expense of sales for the quarter was at Rs57.38 billion as compared with Rs50.19 billion. Hence, the gross profit of K-Electric rose to Rs16.27 billion as compared with Rs12.76 billion.
The company announced a net profit of Rs9.44 billion for the 1st Quarter of 2021 as compared with Rs3.59 billion in the same months of the past financial year.