Kenya Electricity Generating Company (KenGen) #ticker:KENGEN has posted a 34.31 per cent jump in net profit in the year ended June on increased interest income.
The Nairobi Securities Exchange listed firm’s net profit increased to Sh9billion, up from Sh6.74 billion a year earlier.
The company, which sells its units to Kenya Power, said it’s electricity revenue decreased by 1 per cent from Sh 29.5 billion in 2016 to Sh29.36 billion this year.
KenGen acting managing director Rebbecca Miano said the performance came on the back drop of severe drought which affected KenGen’s hydro generation and power evacuation constraints which reduced geothermal dispatch.
