NEA makes profit of more than Rs 8 billion

KATHMANDU, DECEMBER 2: The Nepal Electricity Authority (NEA) has in the first three Nepali months (mid-July to mid-October of the current fiscal year, 2022/23 made a net profit of Rs 8.5 billion. The very profit was recorded after deducting the total expenditure of Rs 24.88 billion from the total income of Rs 32.98 billion.  

During the review period, the NEA, through the supplies of power generated by the powerhouses under its ownership and bought from the private sector, earned a total of Rs 22.20 billion in the period. It purchased power worth Rs 14.15 billion from the private sector. Its income from the power trade to India in the first three months was Rs 6.17 billion.

Till six years back, the NEA had been grossly a loss-making state-run entity. However, it started to gradually improve its financial health in the following years. Its annual profit was as much as Rs 16.16 billion in the last fiscal year.

According to the NEA managing director Kulman Ghising, various factors like intervention in power leakage, power export to India, rise in domestic consumption and control of expenditures helped it turn into a profit-making organisation.