Karachi: Kot Addu Power Company (KAPCO) has demonstrated solid financial performance for the fiscal year 2024, as detailed in its latest financial statements. On October 24, 2024, KAPCO outlined its consistent commitment to excellence in its annual review.

According to information available from the Pakistan Stock Exchange (PSX), KAPCO reported substantial assets and decreased liabilities in its balance sheet dated June 30, 2024. Total current assets stood at Rs. 79.30 billion, a decrease from Rs. 98.90 billion in the previous year. Notably, trade receivables were reduced to Rs. 10.90 billion from Rs. 26.60 billion, showing effective management of receivables. Investments held steady at Rs. 47.40 billion. Liabilities saw a significant reduction; current liabilities totaled Rs. 18.20 billion, down from Rs. 32.80 billion in 2023.

For the fiscal year 2024, the company reported a profit of Rs. 4.31 billion, an improvement over the Rs. 3.96 billion from 2023. This increase was driven by a reduction in both tax expenses and financial costs, with the latter dropping to Rs. 3.78 billion from Rs. 6.25 billion. The earnings per share also rose to Rs. 4.90 from Rs. 4.50.

In its operational updates, KAPCO announced it had retained an investment of approximately Rs. 47 billion in Mutual Funds, aiming to diversify into greenfield and brownfield projects. The company also highlighted its strategic bids in the renewable energy sector, including upcoming solar and wind projects, reinforcing its commitment to sustainable energy solutions.