Net earnings for the previous year stood at Sh6.99 billion.

 

The utility's jump in profits was supported by increased electricity sales and a review of the electricity tariff that became effective at the start of December 2013.

 

"Electricity sales grew by 5 per cent from 6,790 million units the previous year to 7,130 million units in the period under review. This combined with the implementation of the second phase of the tariff calendar period in July 2014 and improved distribution efficiency led to a 24.3 per cent increase in sales revenue," said Kenya Power in a statement accompanying the results.

 

During the period under review, the company's sales rose from Sh62.6 billion in the previous year to Sh77.8 billion.

 

The cost of purchasing electricity from generating companies, excluding the fuel cost levied on thermal power and foreign exchange losses, increased to Sh44.5 billion from Sh30.7 billion.

Source : allafrica.com