Kathmandu. In the first quarter of the current fiscal year, there has been a significant improvement in the profit of hydropower companies. According to the company’s financial report, the profit of 93 hydropower companies has increased by 92 percent in the first quarter of the current FY.

In the first three months of the current fiscal year, 93 hydropower companies have earned a profit of Rs 5.06 billion. In the first three months of the last fiscal year, these 93 companies had earned a net profit of Rs 2.62 billion.

The company’s profit has increased due to the increase in the income earned by selling electricity. In the first three months of the current fiscal year, 93 companies have earned Rs 15.77 billion by selling electricity. This income has increased by 4.93 percent compared to the previous year. In the same period of the last fiscal year, 93 companies had earned Rs 15.13 billion.

Tamakoshi Company was the highest profitable hydropower company during this period. The company has earned a net profit of Rs 1,6746,89,000 during the period. The company’s net profit increased by 164.99 percent compared to the corresponding period of the previous year. The company had posted a net profit of Rs 63.19 crore in the previous fiscal year.

Similarly, the second highest profit company is Sahas Energy Hydropower Company. The company has earned a net profit of Rs 49.48 crore in the first three months of the current FY. The profit of the company has also increased compared to the last 3 months. The profit of the company increased by 23.66 percent compared to the previous year. The company had posted a net profit of Rs 40.02 crore in the same quarter last year.

In the last fiscal year, 9 companies which were in loss have turned profitable in this fiscal year. As of the first quarter of the current fiscal year, 13 hydropower companies have incurred losses. The hydropower companies that suffered loss are Shiva Shree Hydropower, Mabilung Energy, Nyadi Hydropower, Rapti Hydro and General Construction, Liberty Energy, Ghalemdi Hydropower, Khanikhola Hydropower, Trishuli Hydropower, Modi Energy, Vision Lumbini Energy, Upper Lohorkhola Hydropower, Menchhium Hydropower and Rasuwagadhi Hydropower. During this period, the profit of 24 hydropower companies has decreased compared to the last fiscal year.