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NEA Profit Falls by Rs. 3.95 Billion as Costs and Financial Burden Rise

Nepal Electricity Authority (NEA) reported a sharp decline in net profit in FY 2082/83, with earnings falling by Rs. 3.95 billion compared to the previous fiscal year. The authority attributed the decline to foreign exchange fluctuations, rising financial obligations, free electricity provided to households consuming up to 20 units, higher depreciation and increased operating expenses.

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NEA Profit Falls by Rs. 3.95 Billion as Costs and Financial Burden Rise

Nepal Electricity Authority’s profit has continued to decline, falling to Rs. 5.04 billion in FY 2082/83 from Rs. 8.05 billion in FY 2081/82. This represents a year-on-year decline of Rs. 3.95 billion. The authority had reported a profit of Rs. 13.30 billion in FY 2080/81, meaning its earnings have dropped significantly over the past two fiscal years. NEA said the decline was driven by several financial and operational factors, including fluctuations in foreign exchange rates, growing financial obligations, free electricity provided to domestic consumers using up to 20 units, higher depreciation and rising operating costs.

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