Kenya Power staff. [Photo/the-star.co.ke]Kenya Power has registered a marginal growth in net profit from Sh7.2 billion to Sh7.3 billion.
The results were posted in the financial year ended June 31, this year.
Profit before tax decreased by 9.7 per cent to Sh10.9 billion from Sh121 billion posted in the previous year as costs accelerated.
“The decrease was mainly attributed to increase in transmission and distribution costs by Sh4.77 billion and decreased finance income,” said Managing Director Kenneth Tarrus in a statement.
In the period under review, finance income fell 21 times from Sh965 million to Sh46 million. This was as a result of reduced bank balances.
In the statement, electricity units generated from thermal plants increased by 66.9 per cent, from 1,297-gigawatt hour (GWh) the previous year to 2,165GWh. I