Eskom swings into loss

South Africa‘s state-run power utility Eskom reported on Monday a R2.3 billion ($171 million) loss for the 2017/18 financial year ending March, weighed down by increases in financing costs and depreciation.

The struggling utility, which made a profit of R888 million in the previous reporting period, said it had R22.7 billion liquidity by the end of the financial year.

“Eskom is undoubtedly facing one of the most difficult times in its history,” Eskom chairman Jabu Mabuza said at the results presentation.