NEA’s profit up by over Rs 4 billion

KATHMANDU, FEBRUARY 29: In the first six months of the current fiscal year, the Nepal Electricity Authority (NEA) has reported a profit of Rs 15.36 billion. This marks an increase of Rs 4.44 billion compared to the same period last year.

Kulman Singh Ghising, Executive Director of NEA, attributes the rise in profit to several factors, including better control over electricity leakage, increased power exports to India, and the implementation of cost-cutting measures.

During the review period, NEA’s total income reached Rs 67.28 billion. Of this amount, Rs 45.49 billion came from selling electricity, with Rs 13.38 billion generated from exports to India.

Additionally, NEA spent Rs 30.48 billion to purchase power from national producers (Rs 28.49 billion) and India (Rs 1.98 billion) between mid-July and mid-December of the fiscal year 2023/24. Total expenditures during this period amounted to Rs 51.92 billion.