DGPC annual revenue grows by Nu 366mn

DGPC annual revenue grows by Nu 366mn

Druk Green Power Corporation Limited’s (DGPC) overall income last year increased to Nu 14.624bn from Nu 14.258bn in 2015. The increase was attributed mainly to the 192.24MU increase in electricity generation with corresponding increase in energy export at higher tariffs.

A dividend income of Nu 44.72mn was also accrued from the Dagachhu project. The four hydropower plants of Tala, Chhukha, Kurichhu and Basochhu under DGPC generated 7,381.60MU in 2015 on account of higher hydrological flows mainly in the Wangchhu as well as the contribution of 67.35MU of additional generation from the Tsibjalumchhu Diversion Scheme to Tala Hydropower Project. As a result of this, the import of power from India decreased to 110.63MU in 2016 compared to 158.46MU in 2015.

Net energy exported to India increased to 5,373.35MU in 2016 from 5,149.17MU in 2015. For the first time, the quantum of electricity supplied for domestic consumption through Bhutan Power Corporation Limited reduced slightly to 2,084.68MU in 2016 from 2,142.16MU in 2015.

Also, there has been an overall 2.72% decrease in expenditure to Nu 6,665.28mn in 2016 from Nu 6,851.9mn in 2015. This was mainly due to lower expenditures on import of energy and interest on borrowings. The expenditure on import of energy decreased as only 110.64MU had to be imported during 2016 as compared to 158.46MU in 2015. The expenditure under interest on borrowings decreased to Nu 476.51mn in 2016 from Nu 622mn in 2015 due to reduced outstanding against loans as a result of repayments.

The Profit After Tax increased by 7.18%, to Nu 5,548.169mn in 2016 from Nu 5,176.647mn in the previous year.

DGPC declared a dividend of Nu 4,993.351mn in 2016, an increase of 1.61% over the Nu 4,914.359mn declared in 2015 due to better financial performance of the company last year.

Staff Reporter