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The profit of Nepal Electricity Authority (NEA) declined by around 27.65 percent in the third quarter of the current fiscal year 2022/23. The state-owned power utility has posted a profit of Rs 8.77 billion (before tax) in the review period compared to Rs 12.12 billion during the corresponding period of FY 2021/22. NEA's annual net profit in the last fiscal year was Rs 16.16 billion, a whopping 157.73 percent increase from FY 2019/20. However, with a sharp drop this year, NEA's profit may not reach the last year's profit level. According to NEA, its operating income dropped by 12 percent in the current fiscal year. The authority earned an income of Rs 84.60 billion in the first nine months of FY 2022/23 compared to Rs 95.95 billion during the same period of the last fiscal. Data shows NEA's expenses declined by 9.54 percent in the third quarter of the current fiscal year to Rs 75.83 billion from Rs 83.83 billion in the corresponding period of the last fiscal year. According to NEA officials, the profits have declined as it had to import more electricity this year due to the prolonged dry season and decrease in water levels in the rivers. NEA has been importing electricity from India during the dry season that runs from December to April. According to NEA, the run-of-the-river type hydropower projects produce less than 40 percent of their installed capacity during the dry season. NEA's Deputy Managing Director Pradip Kumar Thike said the authority's profit generally contracts till the third quarter of the fiscal year. "The actual picture of the NEA's profit will be visible by the end of the fiscal year," he said. In the meantime, NEA has also invested Rs 28.63 billion in shares and loans in various hydropower projects and rural electrification projects. The authority earned Rs 62.52 billion by selling electricity during this period. It has earned Rs 8.43 billion by exporting electricity to India. NEA has purchased electricity worth Rs 30.44 billion from the private sector power developer in this fiscal. Similarly, it has imported electricity worth Rs 12.28 billion from India during this period.  

The gold is being traded at Rs 111, 600 per tola in the domestic market on Monday. According to the Federation of Nepal Gold and Silver Dealers’ Association, tejabi gold is being traded at Rs 111, 050 per tola. Similarly, the silver is being traded at Rs 1,415 per tola today.

The Nepal Stock Exchange (NEPSE) gained 53. 03 points to close at 1,919.37 points on Sunday. Similarly, the sensitive index surged by 9. 49 points to close at 365. 10 points. A total of 4,557,169-unit shares of 270 companies were traded for Rs 1. 65 billion. Meanwhile, IGI Prudential insurance Limited was the top gainer today with its price surging by 10. 00 percent. Likewise, ICFC Finance Limited Debenture was the top loser with its price dropping by 1. 96 percent. At the end of the day, the total market capitalization stood at Rs 2. 80 trillion.

The Ministry of Finance has made it clear that no change was made by the Finance Bill, 2080 BS regarding the capital gains tax meant for share market investors. A delegation of stock market investors visited the Finance Ministry today with their concerns over what they said was the imposition of an additional tax on the capital gains tax. During the meeting, the Ministry officials said the tax rate remained unchanged from the existing rates. The Ministry further issued a public notice to clarify the matter. As it said 5 percent or the 5.5 percent capital gains tax conditioned by the Bill in the stock market is the final tax rate.