The Nepal Electricity Authority (NEA) reported a profit of Rs 9.11 billion without tax deduction in the first three months of the current fiscal year.

NEA's total revenue, including interest and other earnings, reached Rs 41.80 billion from mid-July to mid-October, while total expenses stood at Rs 32.69 billion, the state-owned national news agency RSS reported.

According to RSS, NEA spent Rs 32.69 billion on operating and maintenance costs. Revenue from electricity sales across various distribution centers amounted to Rs 28.95 billion during the same period.

Additionally, NEA earned Rs 12.72 billion from exporting surplus electricity to India during the monsoon season when production exceeds domestic demand. It includes Rs 4.19 billion earned through the export of electricity to India in the first month of the current fiscal year 2024/25.

In the previous fiscal year 2023/24, NEA exported approximately 1.94 billion units of electricity to India, earning Rs 16.93 billion.

The figure of Rs 12.72 billion for the first four months of the current fiscal year indicates a significant increase in export earnings compared to the previous year's total.

NEA, once a loss-incurring institution, turned profitable under the leadership of Kulman Ghising, who was first appointed as Managing Director in 2016. Through initiatives to curb electricity theft, improve operational efficiency, and expand domestic and cross-border electricity trade, NEA has managed to generate consistent profits. This transformation was further supported by increased domestic electricity consumption and strategic exports of surplus energy in recent years.

RSS added that NEA purchased 4.10 billion units of electricity from its own and subsidiary companies, as well as private producers as of mid-October. Managing Director Kulman Ghising disclosed that Rs 21.09 billion was paid for these purchases.