Kenya Power has reported Ksh 24.5 billion in full year net profit, which is down 18.7pc from the Ksh 30.08 billion recorded the previous year.
The company attributes lower profit to lower electricity tariffs, reduced foreign exchange recoveries, and higher finance costs linked to currency stabilization.
The utility says revenue from electricity sales fell to Ksh 219.29 billion from Ksh 231.12 billion the year before, following tariff adjustments aimed at easing consumer costs.
However, lower power purchase costs which dropped by nearly Ksh 5.9 billion cushioned the decline, supported by the strengthening of the Kenya Shilling against major currencies.
The company’s operating expenses reduced by Ksh 3.86 billion due to improved efficiency and lower provisions for credit losses.
The utility firm incurred Ksh 4.72 billion in finance costs, reversing last year’s gains of Ksh 683 million, after the local currency stabilized, which reduced unrealized exchange gains.
Kenya Power plans to focus on modernizing the national grid, accelerating customer connections, and driving digital transformation to improve reliability and reduce losses.
The board has recommended a final dividend of 80 cents per share, which is an addition to the 20 cents per share in interim dividend already paid to shareholders.
