Nepal Electricity Authority (NEA) has reported a profit exceeding Rs 11 billion in the first nine months of the current fiscal year 2023/24. During this period, NEA achieved a profit of Rs 11.6 billion.
The NEA’s financial details (provisional) data until the month of Chaitra (mid-April) show that it earned a total revenue of Rs 93.94 billion during the given period. The figure doesn’t include the tax.
According to proactive disclosures, NEA’s total expenditures, including electricity purchases, administrative costs, and project investments, amounted to Rs 82.88 billion.
In the corresponding period of the last fiscal year, the NEA’s profit amounted to Rs 8 billion 880 million, with a total annual profit of Rs 13 billion 370 million.
The accumulated profit of the NEA has reached Rs 33.64 billion.
The NEA has been earning profits since the fiscal year 2072/73 BS (2015/6). Before this, it was incurring an annual loss of Rs 8.89 billion. As the NEA said, control of electricity leakage, increasing domestic consumption and imports to India, and austerity in expenditures are among the factors leading to the profit for the authority.
Netting Rs 68.89 billion from power supplies, the NEA also exported surplus power to India, with a value of Rs 13.42 billion in this period.
