First Business News Portal in English from Nepal
KATHMANDU: Nepal Electricity Authority (NEA) has earned more profit than Nepal Telecom. In the Fiscal Year (FY) 2022/23, the state-owned power utility earned Rs 13.37 billion net profit, while the profit of Nepal Telecom has been limited to Rs 8.47 billion.
Nepal Telecom earned the highest net profit in the previous fiscal year as well. Similarly, Rastriya Banijya Bank has earned Rs 4.29 billion, Citizen Investment Trust Rs 3.10 billion and Deposit and Credit Guarantee Fund has earned more than Rs 3 billion.
These top five profit-making public institutions have earned a total net profit of Rs 32.25 billion in the FY 2022/23. In the year 2022/23, Nepal Bank and Agricultural Development Bank have left the list of the top five most profitable institutions.
Similarly, Nepal Oil Corporation (NOC) has suffered the most losses. In the FY 2022/23, the NOC incurred a loss of Rs 38.17 billion. Nepal Airline Corporation has lost Rs 17 billion, Nepal Water Supply Corporation Rs 39 million, Dairy Development Corporation Rs 370 million and Nepal Aushadhi Limited has lost Rs 130 million. These five companies have an accumulated loss of Rs 40.78 billion.
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