Himachal Pradesh State Electricity Board earns record profit of Rs 315 crore

Himachal Pradesh State Electricity Board Limited (HPSEBL) has earned a record profit of Rs 315 crore in the financial year 2024-25. “After incurring losses for many years, this is the highest profit ever recorded by the board. It is a testament to the bold steps and decisions taken under the leadership of Chief Minister Sukhvinder Singh Sukhu,” said a government spokesperson.

“The milestone is not just a number but a reflection of the commitment of the state government to its vision of “Nai Soch, Naya Himachal,” the spokesperson said.

Until March, 2024, the HPSEBL had accumulated losses amounting to Rs 3,742 crore. “Through reforms, transparent administrative policies and financial discipline, the present state government helped the board turn profitable,” said the government spokesperson.

The spokesperson further said the Chief Minister prioritised “economic reforms and good governance”, holding several hours of meetings with officials. “He gave clear instructions to all public sector undertakings to work with professional efficiency and move towards self-reliance. The HPSEBL translated this vision into action by implementing financial discipline, cutting unnecessary expenses and improving revenue to achieve this turnaround,” he said.

The spokesperson said that with the improved financial condition of the board, the state government had ensured financial benefits for employees. For the financial year 2024-25, an amount of Rs 368.89 crore had been approved for gratuity, medical reimbursement, revised pension arrears and leave encashment, a significant increase from Rs. 87.56 crore in the previous year.

“Out of this, Rs. 187.86 crore has already been disbursed by July 31, 2025. This reflects the sensitivity and commitment of the state government to employee welfare,” he said.

The Chief Minister has congratulated the management, officers and staff of the HPSEBL on this achievement. He said the success was the result of a clear policy, honest governance and a welfare-oriented approach. “The government would continue to introduce reforms in all public undertakings to make the state economically stronger and provide affordable and better services to the public,” he added.

He expressed confidence that the board would become fully self-reliant, benefiting not only the employees and officers but also the people of the state.