Kenya Power & Lighting Company (KPLC) announced a remarkable after-tax profit of Sh30.08 billion for the fiscal year ending June 30, 2024.
This significant increase in profits is attributed to a rise in sales, bolstered by the connection of 447,251 new customers to the grid and enhanced economic activity, particularly in the manufacturing sector.
In its audited financial results, KPLC also highlighted that the strengthening of the Kenyan shilling contributed to a reduction in finance costs, which fell by Sh24.84 billion.
This turnaround is particularly notable compared to the previous year, when the company faced a financial loss of Sh16.87 billion.
Additionally, KPLC has reported experiencing system issues affecting customers’ ability to purchase tokens.
