Utility losses paint a grim picture
While power is essential for India’s infrastructure development, the financial challenges are daunting. In fact, the biggest concern for State Electricity Boards (read utilities) at the moment seems to be the mounting losses. In FY2010, aggregate utilities’ losses (ex-subsidy) stood at Rs.635 billion, up 18% y-o-y. Even on revenue and subsidy realised basis, losses were a substantial Rs.384 billion (up 15% y-o-y).
Accumulated losses increase by 32%
Accumulated losses for all the utilities, increased by 32% y-o-y to Rs.1.22 trillion at the end of FY2010. Maximum accumulated losses came from Northern region at Rs.690 billion, followed by losses of Rs.257 billion in Southern and Rs.121 billion in Eastern region. Huge accumulated losses in Northern region were mainly caused by Uttar Pradesh, J&K and Punjab, where the losses stood at Rs.351 billion, Rs.118 billion and Rs.97 billion respectively.
While power is essential for India’s infrastructure development, the financial challenges are daunting. In fact, the biggest concern for State Electricity Boards (read utilities) at the moment seems to be the mounting losses. In FY2010, aggregate utilities’ losses (ex-subsidy) stood at Rs.635 billion, up 18% y-o-y. Even on revenue and subsidy realised basis, losses were a substantial Rs.384 billion (up 15% y-o-y).
Accumulated losses increase by 32%
Accumulated losses for all the utilities, increased by 32% y-o-y to Rs.1.22 trillion at the end of FY2010. Maximum accumulated losses came from Northern region at Rs.690 billion, followed by losses of Rs.257 billion in Southern and Rs.121 billion in Eastern region. Huge accumulated losses in Northern region were mainly caused by Uttar Pradesh, J&K and Punjab, where the losses stood at Rs.351 billion, Rs.118 billion and Rs.97 billion respectively.
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