Despite growing subsidy bill, PSPCL logs Rs 2.6K-cr profit

The Punjab State Power Corporation Limited (PSPCL) earned a profit of Rs 2,630.42 crore during financial year 2024-25, as per the audited profit and loss statement.

In 2023-24, it had earned a profit of Rs 800.41 crore. The state power utility was a loss-making company earlier, with a total loss of Rs 4,775.93 crore as of March 2023.

As per the report, the total income of the PSPCL was Rs 49,570.44 crore, Rs 5,615.90 crore more than the last year’s revenue of Rs 43,964.54 crore. Its expenses stood at Rs 46,940 crore, resulting in a profit of Rs 2,630.42 crore. Last year, the expenditure was Rs 43,164 crore. The major component in expenditure included power purchase worth Rs 31,954.22 crore against last year’s figure of Rs 28,801.92; expenditure on power generation at its own plants was Rs 3,697 crore, Rs 325 crore more than last year’s figure of Rs 3,372 crore; besides other expenses.

The revenue receipts from operations stood at Rs 27,217.81 crore, while the state government provided a subsidy of Rs 20,693.06 crore and other income was Rs 1,659.57 crore.

“Running its own coal mine and making optimum use of its power plants, the PSPCL has increased its profitability. The fact that the PSPCL was led by a former engineer for some years ensured better technical management,” said All India Power Engineers Federation spokesperson VK Gupta.