Kenya Power records Ksh.24.47B profit, 18.7% fall from last year

Kenya Power on Tuesday reported a profit after tax of Ksh.24.47 billion for the 2024/2025 fiscal year, buoyed by higher electricity sales and lower operational costs, although this was a 18.7% fall from Ksh.30.08 billion recorded the previous year.

The state-owned utility attributed the performance to improved system efficiency, increased power consumption, and cost savings driven by the stability of the Kenyan shilling against major foreign currencies.

Electricity sales rose by 887 GWh to 11,403 GWh, marking an 8% increase, while total unit purchases grew by 787 GWh.

Kenya Power said the overall cost of sales dropped 4% from Ksh.150.6 billion to Ksh.144.6 billion, saving the company Ksh.5.94 billion.

Meanwhile, operating expenses fell by Ksh.3.86 billion, attributed to lower expected credit losses due to improved macroeconomic conditions and better customer payment behaviour.

The company’s board of directors recommended a final dividend of Ksh.0.80 per share, adding to an interim dividend of Ksh.0.20 already paid earlier in the year.

“Dividend payment has significantly strengthened investor confidence. The Kenya Power share price has appreciated by more than 900% from a low of Ksh.1.38 in December 2023 to over Ksh.15,” the board’s chairperson, Joy Brenda Masinde, said.

Kenya Power said it connected 401,848 new customers during the year, bringing its customer base to 10.1 million.