Technocrat led PSPCL turns loss making corporation into profit making; earns handsome profit in year 2023-24
Kanwar Inder Singh/ royalpatiala.in News/ August 8,2024
PSPCL has earned a profit of 830.37 crores during financial year 2023-24 as per annual audited report. It may be mentioned that PSPCL was a loss making company with a total loss of Rs.4775.93 crores for the period ending March 2023 as per last year audit.
As per report, the total income of PSPCL was Rs.43988.65 crores and the expenses were Rs.43157.77 crores making a total profit of Rs.830.37 crores. The revenue receipt increased from Rs.21989.90 crores to Rs. 24991.40 crores an increase of Rs.3002 crores. The reduction in expenses was due to less power purchase by Rs. 1447 crores which was Rs.28802 crores as compared to previous year of Rs. 30249 crores.
The sale of power through power exchange in the open market for Rs.1003 crores and higher thermal generation resulted in the profit. Last year, there was 21% more generation from own hydel plants and 14% more generation from BBMB hydel plants, due to very heavy rains in July. With the acquiring of Goindwal sahib thermal and starting of own Pachhwara coal mines Also improved the finances of PSPCL.financial year PSPCL took the Goindwal Sahib thermal project and with the addition of third thermal plant in state sector ,the power supply also improved.
The posting of a competent, and honest engineer to head PSPCL has indeed now started paying dividends to the government, said V K Gupta, a spokesperson of All India Power Engineers Federation.
