Karachi Electric Supply Company Anounces its 9 months Financial Performance
Karachi: Karachi Electric Supply Company, on Friday 27th April 2012, announced its financial results for the 9 months ending of the current financial year 2012 (9MFY12). The Power Utility has posted Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) of Rs. 5.0bn compared to Rs. 2.7bn during the same period last year; an upward trend of 85% Year on Year basis.
KESC has posted positive EBITDA for the 8th consecutive quarter; a journey which started from the fourth quarter 2010 (4QFY10 – Apr’10-Jun’10) and since then the company’s EBITDA has been on the upswing.
This growth has largely been driven by the improvement in Transmission and Distribution (T and D) losses, which have come down to 29.6%; reduction of 1.6% YoY and 2.9% on QoQ. This was also made possible with the improvement in efficiency of generation fleet through investment in state of the art new plants. During the 3QFY12, all the three Gas Turbines each of 116 MW of the BQPS –II 560 MW combined cycle plant have been successfully commissioned and the steam turbine will be successfully operative next month which will further boost up the profitability of the Company and take the overall KESC generation fleet efficiency to the mark of 40%.
For more information, contact:
Assistant Manager, Media and PR
Karachi Electric Supply Company Limited (KESC)
2nd Floor, State Life Building No 11,
Abdullah Haroon Road, Saddar,
Tel: +9221 9920 7163
Cell: +92346 822 3641