Kot Addu Power’s Profit Rises 52% as Rupee Weakens
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Kot Addu Power Co., Pakistan’s biggest non-state electricity producer, posted a 52.4 percent increase in first-quarter profit, after gains from an appreciating U.S. dollar.
Net income in the three months ended Sept. 30 rose to 2.03 billion rupees ($23.7 million), or 2.31 rupees a share, from 1.34 billion rupees, or 1.52 rupees, a year earlier, the Lahore- based company said in a filing to the Karachi Stock Exchange today. Revenue fell to 16.2 billion rupees from 20.3 billion rupees.