July 20, 2024, Saturday
Nepal 1:37:26 pm

NEA’s profit in 9 months exceeds Rs. 11 billion

The Nepal Weekly
June 11, 2024

Nepal Electricity Authority (NEA) has earned a profit exceeding Rs 11 billion in the first nine months of the current fiscal year, 2080-81 BS (2024-25). During this period, NEA achieved a profit of Rs 11 billion 60 million. 

NEA’s financial details data until the month of Chait (mid-April) show that the organisation earned a total revenue of Rs 93 billion 940 million 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 billion 880 million. 

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 billion 64 million. 

 The NEA has been earning profit since the fiscal year 2072-73 BS (2015-16). Before this, it was making an annual loss of Rs 8 billion 890 million.  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 organisation. 

Netting Rs 68 billion 890 million from power supplies, NEA also exported surplus power from domestic consumption to India, with a value of Rs 13 billion 420 million in this period.