K-Electric (KE) has announced a profit of Rs12.3 billion for the fiscal year (FY) 2017-18, marking a growth of 18.16 per cent as compared to Rs10.4 billion during the same period of last financial year, a private news outlet has reported.

According to reports, KE’s Board of Directors held a meeting on Wednesday at the head office and approved the company’s financial results for the year that ended on June 30, 2018.

KE declared an increase in earnings to 0.45 rupees per share in FY18 from 0.38 rupees per share in FY17.

The company sold electricity of over Rs184.16 billion in FY18, an increase of 9 per cent as compared to Rs168.57 billion in the previous year. It also received Rs32.97 billion on account of tariff adjustment in the year compared to Rs15.29 billion in the corresponding period.

Moreover, during the reporting period, over Rs44 billion has been invested in generation, transmission and distribution, while KE’s key financial and operational indicators marked sustained growth as well.