Kazakhstan’s KEGOC posts nearly 60% jump in profit

Kazakhstan Electricity Grid Operating Company (KEGOC) significantly improved its financial performance in the first half of 2026, reporting a 59.4% year-on-year increase in net profit to 54.6 billion tenge. In the second quarter alone, net profit rose 35.3% to 21.3 billion tenge.

Overall, KEGOC’s revenue from January to June increased 31.1% to 240.1 billion tenge. Gross profit jumped 70.5% to 87.5 billion tenge, while operating profit rose 58.7% to 72 billion tenge. Profit before tax reached 68.4 billion tenge, up 62% year-on-year.

The company also posted growth across all key financial metrics in the second quarter. Revenue rose 19.5% to 113.6 billion tenge, gross profit surged 65% to 40.2 billion tenge, and operating profit increased 33.1% to 28.1 billion tenge. Profit before tax climbed 37.8% to 26.7 billion tenge.

As of June 30, KEGOC’s assets stood at 1.23 trillion tenge, while shareholders’ equity totaled 844.1 billion tenge. Retained earnings reached 123.4 billion tenge, with book value per share at 3,045 tenge.

The strong financial results come as KEGOC continues to invest in its power grid infrastructure. The company also posted a significant increase in profit in 2025, when net profit rose 49% to 88 billion tenge. At the same time, KEGOC maintained a low debt burden and strong liquidity.