K-Electric’s Board of Directors has approved the company’s financial results for the year ending June 30, 2024, in a meeting held on September 23, 2025. The power utility reported a profit of Rs4.13 billion after tax, marking a significant milestone despite the ongoing challenges of electricity theft, inflation, and rising costs.
According to the report, the recovery ratio for FY24 stood at 91.50%, reflecting a decline of 1.30% compared to the previous year’s 92.80%. The dip highlights the financial pressure faced by the company as recoveries become increasingly difficult in the wake of growing theft and line losses.
The addition of the 900 MW BQPS-III plant provided additional capacity, raising KE’s maximum power supply to 3,550 MW during the year. The company’s overall transformation capacity also reached 7,095 MVA with the installation of new power transformers, strengthening Karachi’s electricity infrastructure.
Power procurement from the National Grid increased to 2,000 MW, ensuring greater supply stability. However, KE acknowledged that theft and illegal connections continued to strain operations. In FY24, around 30,000 operations were carried out against electricity theft, resulting in the removal of nearly 350,000 kilograms of illegal hooks.
The company has also announced forward-looking initiatives for 2025, including the installation of 50,000 low-cost meters. This step aims to curb theft, improve billing transparency, and provide more convenience to customers struggling with irregular connections.
Despite operational challenges, KE’s results highlight its resilience in expanding capacity and maintaining profitability. The continued investment in infrastructure and theft control initiatives reflects the utility’s commitment to meeting Karachi’s growing energy needs.
As Pakistan’s largest private utility, K-Electric remains central to the city’s power supply chain. The company emphasized that addressing electricity theft, improving recovery, and enhancing efficiency remain its top priorities moving forward.
