K-Electric Net Profit Reaches Rs 32.75 Billion For Year 2016-17 – Research Snipers

K-Electric Net Profit Reaches Rs 32.75 Billion For Year 2016-17

K-Electric conducted their 106th Annual General Meeting, led by Independent Director on KE Board, Mr. Khalid Rafi. The meeting was attended by CEO Tayyab Tareen, CFO Moonis Alvi, and Company Secretary Rizwan Dalia along with other KE members.

The company confirmed that it earned PKR 32.75 billion profit in the year 2016 which is much better compared to PKR 28.32 billion profit in the year 2015. So the growth recorded was 15.6%.

KE management also informed that “Installation of Aerial Bundled Cables (ABC), which is an innovative concept for power distribution guaranteeing both safety and higher system efficiencies, is also part of our vision to further enhance the reliability of power supply across KE’s network. The power utility is also proud to serve its customers with an award-winning call center equipped with the world’s leading customer engagement platform Genesys, state-of-the-art customer relation & billing management system SAP IS-U and successful rollout of handheld devices for meter reading across its network in line with KE’s customer-centric approach and focus on continuous process improvement.”

Also read: NEPRA orders to cut down electricity costs

Also, the management shared the plan for power utility robust business in order to meet growing power demand and improve power infrastructure of the country. They said, “In consideration of the power demand-supply gap of the megacity, there is a need to upgrade the power infrastructure through additional investment. However, it is not financially viable unless the review petition on MYT pending with NEPRA is decided with a view to undertake the sustainability of KE’s future cash flows to undertake large-scale projects in a realistic manner.”