KESC reports profit for the first time

KESC's pre-tax profit stood at Rs 2.568 billion compared to loss before tax of Rs 10.054 billion in 2011.

KARACHI: Karachi Electric Supply Company Ltd (KESC) has for the first time reported a profit bofore tax of Rs 2.620 billion during the year ending June 30, 2012 against a net loss of Rs 9.393 billion last year.

According to financial results sent to the Karachi Stock Exchange on Wednesday, the pre-tax profit of the company stood at Rs 2.568 billion during the period under review compared to loss before tax of Rs 10.054 billion in 2011.

The utility company posted an earning per share of Rs 0.11 as against loss per share of Rs 0.44 in 2011.

KESC's revenues surged to Rs 92.569 billion in 2012 as compared to Rs 85.926 billion while the company obtained Rs 70.029 billion in tariff adjustment.

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