NEA witnesses 164 percent rise in annual income; profit exceeds Rs 16 billion

Thu, Aug 11, 2022 8:54 AM on Featured, National,

The Nepal Electricity Authority (NEA) has witnessed an increase of 164 percent in its annual income.

The state-owned electricity authority has projected its annual net profit of Rs 16 billion 90 million in the fiscal year 2021/22 while it had earned up only Rs 6 billion 100 million in the fiscal year 2020/21.

NEA's Chief Executive officer Kulman Ghising shared that the annual income of the Authority has exceeded Rs 100 billion according to its unprocessed fiscal details for the fiscal year 2021/22. With this, the NEA has been established as the highest income-generating and profit-making public enterprise in Nepal.

"The sales income has up with the rise in the energy consumption by 27 percent. Power export also increases. The NEA has been successful to increase energy production by around 16 percent from the powerhouses owned by the NEA", he added.

Ghising further shared that the energy leakage has also reduced and other income of the Authority also went up which resulted in the increment of its net profit.