K-Electric (KE) has released its financial results for the fiscal year ending June 30, 2024, reporting a profit after tax of PKR 4.13 billion despite operating in one of the toughest economic environments in recent years.
Economic & Operational Pressures
Pakistan’s GDP grew by 2.51% in FY24, but high inflation and elevated policy rates created hurdles for the power sector. For KE, these conditions translated into higher consumer tariffs, rising costs, and challenges in meeting regulatory benchmarks.
As a result, AT&C losses increased by 1.8 percentage points, while the recovery ratio slipped to 91.5%, compared to 92.8% last year.
Major Achievements in FY24
Despite challenges, KE achieved several milestones:
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900 MW BQPS-III Plant boosted generation efficiency to 49.5%.
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Maximum supply of 3,550 MW dispatched during FY24.
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Transmission capacity expanded to 7,095 MVA with new transformers at Dhabeji-2, DHA-4, and Korangi East.
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Two key grid interconnections (500kV KKI & 220kV Dhabeji-2) enabled KE to draw ~2,000 MW from the National Grid by August 2025.
Anti-Theft & Recovery Drives
To combat financial pressures, KE intensified anti-theft operations:
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Removed 350,000+ kilograms of illegal kundas.
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Conducted nearly 30,000 drives against electricity theft.
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Announced the installation of 50,000 low-cost meters to support legal connections.
Looking Ahead: FY25 Outlook
KE expects improving macroeconomic conditions in FY25 to support growth. The company plans:
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Expanding electrification via network extension.
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Running year-round recovery camps.
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Maintaining strict governance and anti-theft initiatives.
KE reaffirmed its long-term investment strategy across the value chain, aiming to strengthen operational performance and contribute to Pakistan’s energy stability.
