KATHMANDU, Feb 28: The Nepal Electricity Authority (NEA) generated a profit of Rs 11.36 billion in six months and made Rs 53.18 billion from electricity sales.
The NEA generated a total of Rs 70.44 billion from electricity sales, interest, and other sources during this period, while it spent Rs 59.08 billion on electricity purchases, administrative work, and various projects.
By mid-January in this fiscal year, the NEA reported a profit of Rs 11.36 billion before tax.
The NEA is using the profit it earned to expand and strengthen infrastructure for electricity generation, transmission, distribution, and electrification projects.
In the first six months of the current fiscal year, the NEA earned Rs 53.18 billion from electricity sales. During this period, the NEA paid Rs 34.84 billion to subsidiaries, affiliated companies, and private producers for electricity purchases.
The NEA paid Rs 1.65 billion to import 242 million units of electricity from India.
From Shrawan (mid-July to mid-August) to Poush (mid-December to mid-January), the NEA exported 1.77 billion units of electricity to India, earning Rs 13.9 billion. After the onset of winter, the NEA has been importing electricity from India.
The NEA spent Rs 13.35 billion on various projects and electrification under the development budget received from the government and foreign aid during this period.
In the fiscal year 2015/16, the NEA suffered a loss of Rs 8.89 billion but has consistently made a profit in the subsequent years. Last year, the NEA enjoyed a profit of Rs 14.46 billion.