Cape Town - Eskom has made a net profit after tax of R5.23bn for the 12 months to March 31 2013.
This is down significantly from the R13.2bn reported last year.
Revenue has increased dramatically from R114bn to R128bn for the period, primarily thanks to higher electricity tariffs.
Electricity sales have come down 3.7%, giving an idea of the impact of higher tariffs.
However, costs have skyrocketed, leading to the downward movement in profit - a worrying sign.
Primary energy costs (mainly coal) have risen from R46bn to R60bn for the period. Operational costs went up from R44bn to R57bn.
Shocking news is that Eskom chief financial officer Paul O’Flaherty has decided to stick to his initial decision to leave Eskom, as indicated six months ago.
The department of public enterprises has been trying to keep O’Flaherty on, but their efforts have not been successful.
- Fin24
*Follow James-Brent Styan on Twitter at @jamesstyan.
This is down significantly from the R13.2bn reported last year.
Revenue has increased dramatically from R114bn to R128bn for the period, primarily thanks to higher electricity tariffs.
Electricity sales have come down 3.7%, giving an idea of the impact of higher tariffs.
However, costs have skyrocketed, leading to the downward movement in profit - a worrying sign.
Primary energy costs (mainly coal) have risen from R46bn to R60bn for the period. Operational costs went up from R44bn to R57bn.
Shocking news is that Eskom chief financial officer Paul O’Flaherty has decided to stick to his initial decision to leave Eskom, as indicated six months ago.
The department of public enterprises has been trying to keep O’Flaherty on, but their efforts have not been successful.
- Fin24
*Follow James-Brent Styan on Twitter at @jamesstyan.