(Last Updated On: February 27, 2015)
Kenya’s biggest electricity generating company has reported an astounding 484% rise in after tax profit. The company did get a tax credit but also increased revenue from geothermal power and improved efficiency in power generation. PAT rose from Ksh1.02 billion to Ksh4.93 billion.
The 280MW Olkaria plants started generating revenue for the company a few months ago. 35.6MW of Wellheads, 20.4MW Ngong wind and Olkaria II power plant had undergone maintenance for improvements.
Electricity revenues grew by around 36% from Ksh8.4 billion to Ksh11.6 billion. An additional 344MW was produced by the company despite the lack of rains which affected the hydroelectric power plants. Total revenues were up from ksh8.92 billion to Ksh12.18 billion.