NEA earns Rs 8.5 billion profit first three months. The Nepal Electricity Authority (NEA) made a profit of approximately Rs 8.5 billion in the first three months of the current fiscal year.
The NEA collected Rs 32.98 billion through the sale of energy, interest, and other income from mid-July to mid-October of the current fiscal year, according to the financial statement (provisional). The NEA achieved a profit of Rs. 8.55 billion (excluding tax) in the first three months of the fiscal year while spending Rs 24.48 billion.
According to the details of the major activities carried out in the first three months of the current fiscal year, which were published in accordance with the provisions of the Right to Information Act, the authority purchased electricity from the private sector worth Rs 14.15 billion during this period.
The sale of energy generated by the NEA’s and private sector’s power plants created a net income of Rs 22.2 billion.
The NEA’s managing director, Kulman Ghising, stated that the agency was able to make a considerable profit in the first three months of the current fiscal year due to leakage control, an increase in income due to increased electricity export to India, and cost reduction.
Ghising stated that the profit was used to build and strengthen the transmission and distribution infrastructure in order to increase domestic electricity usage and supply consumers with reliable and quality electricity. NEA earns Rs 8.5 billion profit first three months.
Ghising stated, “In the coming days, an investment of Rs 300 billion to 400 billion will have to be made within the next four to five years to boost the consumption of energy, to deliver affordable and quality electricity to consumers.”
Due to limited resources, the Nepalese government is unable to obtain sufficient funding, so every year’s earnings will be used for production, transmission, and distribution. We are investing in infrastructure expansion and improvement.”
