Kathmandu, August 10
Nepal Electricity Authority (NEA) recorded a profit of Rs 12.33 billion in fiscal year 2022/23.
Managing Director of NEA, Kulman Ghising said the authority’s profit had slightly gone down compared to the fiscal year 2021/22.
NEA has made profits of Rs 13.37 billion in fiscal year 2021/22.
Ghising said the profits had decreased due to a decrease in water flow in rivers during the lean season and an increase in demand in Nepal due to which the NEA had to import electricity to sustain demand.
Ghising said the authority’s earnings through electricity sales reached Rs 118 billion in fiscal year 2022/23 compared to Rs 81 billion in 2021/22.
He also announced the authority is planning to issue shares to the public.