South Africa's state power company Eskom made an after-tax profit of 1.6 billion rand ($84 million) in April-September this year, Reuters reported.

The debt-laden utility has experienced the worst power cuts on record in Africa's most industrialized economy so far this year.

Eskom said in a statement that despite achieving a profit in the first six months, it projected to post an after-tax loss of 23.2 billion rand ($1.26 billion) by the end of the financial year (end of March 2024).

The main reasons for the expected full-year loss include the poor power plant performance, the inability to fully recover the cost from electricity tariffs, high debt servicing costs and late payment by some customers, Eskom added.

Eskom transforms inputs from the natural environment such as coal, nuclear, and wind into more than 90% of the energy supplied to a wide range of customers in South Africa and the Southern African Development Community region.

It is one of the few remaining vertically integrated utilities connected to the Southern African Power Pool through an interconnected grid, which serves to support grid stability.

(Writing by yan.sun  Editing by Harry Huo)
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