Electricity Authority's profit decreases by 1.4 billion

KATHMANDU, Aug 10: The profit of the Electricity Authority in the last fiscal previous year 2079/80 has decreased by Rs 1.4 billion compared to the previous fiscal year 2078/79.

The Authority had earned a profit of Rs 13 billion and 370 million in the previous fiscal year 2078/79. But it only managed to earn Rs 12 billion and 330 million in the last fiscal year.

According to the Authority, the profit was affected due to the prolonged dry season in the last fiscal year 2079/80. The Managing Director of Nepal Electricity Authority, Kulman Ghising, informed that the water flow decreased during the dry season and the electricity production decreased as a result.

The Authority said that the profit decreased as a result of importing electricity to meet domestic demand, to compensate for the decrease in the production of electricity.

In the last fiscal year, the authority's income from selling electricity reached Rs 118 billion. The income was only Rs 81 billion in the previous fiscal year. Similarly, the accumulated profit of the Authority has increased from Rs 11 billion to Rs 36 billion and 670 million in the last fiscal year.