Full year net profit at Vector rose slightly due to growth in its smart metering business and continued tight cost control.
The country's largest electricity and gas distributor reported on Thursday that net profit rose 2.2% to more than $206 million in the 12 months to the end of June.
Operating profit grew 0.5% to $630.5 million. Revenue also increased by 2.2% to nearly $1.3 billion.
However, chief executive Simon Mackenzie said revenue fell once price increases on its gas and electricity networks were stripped out.
Vector reduced its electricity lines charges in line with regulatory requirements in April.
However, Mr Mackenzie said only a small number of retailers have passed this reduction onto customers.
The company will pay a final dividend of 7.75 cents, up slightly from last year.
