Lahore September 16 2022: Kot Addu Power Company announced full year dividend of PKR 4 per share along with annual results for the fiscal year ended 2022.
This is in addition to PKR 4 per share already paid by the company earlier this year.
For the full year, the turnovers was Rs. 136.59 billion, cost of sales were Rs. 128.06 billion and profit after tax stood at Rs.9.89 billion (compared to Rs 10.22 billon last year) giving an EPS of Rs. 11.24 compared to Rs 11.62 in the last year.
Pursuant to third Amendment in the Power Purchase Agreement, Capacity Purchase Price (CPP) revenue has been booked as an amortization of CPP already received in advance from the power purchaser whereas previously CPP revenue was based on annual dependable capacity and indexation factors. The decrease in earnings for the period, as compared to the previous period, is due to higher taxation charge.
On September 8 2022, National Electric Power Regulatory Authority (NEPRA) has renewed the Generation Licence of the Company for a period of three (3) years from the date of expiry (September 21, 2021). Hence, the term of the Generation Licence will expire on September 21, 2024.
