KATHMANDU, Dec 18: The Nepal Electricity Authority (NEA) earned a profit of Rs 9.11 billion in the first three months of the current fiscal year. This is the profit before tax deductions.
From mid-July to mid-October of the current fiscal year, the total revenue, including interest and other income, stood at Rs. 41.87 billion, while the expenses amounted to Rs 32.69 billion.
NEA makes profit of Rs 10.67 billion
During this period, the NEA incurred operational and maintenance expenses amounting to Rs. 32.69 billion. Similarly, the electricity sales revenue from various distribution centers totaled Rs 28.95 billion, of which Rs 26.78 billion has been collected.
The NEA purchased a total of 4.15 billion units of electricity, including 875.2 million units from its own and subsidiary companies and 3.23 billion units from other private producers. For this, a payment of Rs 21.917 billion was made, according to NEA's Managing Director, Kulman Ghising.
No electricity was imported from India from mid-July to mid-October. Despite falling short of the expected export target due to floods in mid-September, the NEA stated that there was no need for imports during this period. During this time, the NEA managed to export 1.40 billion units of electricity to India, generating revenue of Rs 10.89 billion.
The Government of Nepal, along with foreign assistance and investments, spent a total of Rs 16.94 billion. This amount was utilized for various projects and electrification initiatives. Out of this, the NEA itself contributed Rs 10.88 billion, while payments toward foreign expenditures amounted to Rs 6.553 billion.
