KenGen stocks rally after announcing 61% net profit

KenGen stocks rally after announcing 61% net profit

Kenya Electricity Generating Company PLC (KenGen) stocks rallied Wednesday hours after it announced a record Ksh.4.7 billion profit.

The Wednesday close saw the power utility sell Ksh.3.31 per share from the previous day at Ksh.3.26, a 1.53 percent jump in stock sell.

Its net profit in nine months to September 30, 2022 grew by 61.7 percent to Ksh.4.7 billion from Ksh.1.8 billion posted same period last year.

It also closed the day among top five gainers on the Nairobi Securities Exchange (NSE), but bottom on the list after Express Kenya, Bamburi Cement, Carbacid Investment and Home Africa – whose stocks closed at Ksh.3, Ksh.31.4, Ksh.11.8 and Ksh.0.37 respectively.

KenGen also closed the day with 591, 400 volume of equities moved/traded – making it to top five on the bourse.

Safaricom carried the day when it traded 3,735,200 equities (Ksh.24.35 per equity) followed by Kenya Commercial Bank (KCB) at 1,280,300 (Ksh.38), East African Breweries (EABL) came third with 816, 000 – Ksh.166, closely followed by Kenya Power at 810000 (Ksh.1.5).

KenGen’s Q3 net pr
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Lawrence Baraza is a prolific writer with competencies in Digital Media, Print, and Broadcast. Baraza is also a Communication Practitioner currently spearheading Digital content on Metropol TV's Digital Desk.

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