Karachi: Engro Powergen Qadirpur Limited announced its audited financial results for the fiscal year ending December 31, 2024, following a board meeting held on February 14, 2025. The company revealed a slight decline in revenue and maintained a robust operational performance throughout the year.

On February 14, 2025, the Board of Directors of Engro Powergen Qadirpur Limited convened in Karachi to review and approve the company’s financial outcomes for the year 2024. Despite the challenges faced, the company demonstrated a commendable availability factor of approximately 100%, dispatching a net electrical output of 847 GWh with a load factor of 45%, slightly down from 46% the previous year.

The annual revenue for 2024 was reported at PKR 13,250.00 million, a marginal decrease from PKR 13,256.00 million in 2023. This decline was attributed to reduced dispatch and capacity payments, although an increase in tariff helped mitigate the impact. According to information available from the Pakistan Stock Exchange (PSX), the company decided not to distribute any final cash dividend, bonus shares, or right shares for the year. No additional corporate actions or price-sensitive information were disclosed.

The company’s total assets stood at PKR 21.45 billion, with non-current assets amounting to PKR 10.41 billion and current assets at PKR 11.03 billion. Equity and liabilities were divided into total equity of PKR 14.19 billion and liabilities of PKR 7.25 billion. Despite these figures, the company concluded the year with cash and cash equivalents of negative PKR 3.96 billion, reflecting a challenging cash flow environment.

In terms of operational cash flows, Engro Powergen Qadirpur Limited generated PKR 3.24 billion from operations, with net cash from operating activities totaling PKR 3.27 billion. However, net cash utilized in financing activities resulted in an outflow of PKR 3.22 billion, primarily due to finance costs and dividend payments.

Looking forward, Engro Powergen Qadirpur Limited aims to maintain its operational excellence while navigating the challenges in the energy sector. The company’s focus remains on optimizing output and financial stability in the coming years, aligning with its commitment to shareholders and stakeholders alike.