Karachi: K Electric, the electricity supply company in the city of Quaid, has announced the financial results for the first half of the fiscal year 2023.
In this regard, the spokesman says that rising inflation and increase in electricity prices have severely affected the company’s income and receipts.
Difficult socio-political situation and macro-economic factors have adversely affected the performance of various sectors, facing many difficulties during the first half of FY23.
According to K Electric’s statement, due to the increase in bad debts and a 5.7% decrease in the company’s unit consumption, the company incurred a loss of 27.0 billion in the first half of FY23.
According to the spokesperson of Electric, there was a net profit of 3.3 billion in the same period of FY22. The company is also working on the renewal of the tariff for the next period from July 1, 2023.
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