K-Electric reports PKR 4.13 billion profit in FY2024 despite challenges

K-Electric (KE) has announced a profit after tax of PKR 4.13 billion for the fiscal year ending June 30, 2024, showing resilience despite tough economic conditions. The results were approved in the company’s board meeting on September 23, 2025.

The board noted that Pakistan’s economy grew only 2.51 percent in FY24, while high inflation and record policy rates continued to put pressure on the power sector, including KE. The company faced higher AT&C losses, which rose by 1.8 percentage points as many consumers struggled to pay bills due to inflation and tariff hikes.

Still, KE managed to achieve key milestones. The 900 MW BQPS-III power plant was added to its system, improving fleet efficiency to 49.5 percent. The company also dispatched a record 3,550 MW of power during the year. Transmission capacity was boosted with new transformers at Dhabeji-2, DHA-4, and Korangi East, raising overall transformer capacity to 7,095 MVA.

On the distribution side, recoveries dropped slightly to 91.5 percent compared to 92.8 percent last year. KE intensified its anti-theft drive, removing 350,000 kilograms of illegal wires and carrying out 30,000 enforcement actions.

The company also advanced its interconnection with the national grid, successfully commissioning the 500kV KKI and 220kV Dhabeji-2 projects, increasing its power drawl to 2,000 MW from August 2025.

KE said it remains committed to improving performance, reducing losses, and investing across its value chain. The company aims to strengthen partnerships with stakeholders to support customers and contribute to Pakistan’s economy.

About K-Electric:

Incorporated in 1913 as KESC and privatized in 2005, KE is Pakistan’s only vertically integrated power utility, supplying electricity to Karachi and nearby areas. A majority of its shares (66.4%) are owned by KES Power, a consortium of international investors, while the Government of Pakistan holds 24.36% and the rest are free float shares.