Uday helps HR discom swings into black, H1 profit at Rs 201 cr

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Indicating signs of turnaround under Uday scheme meant for revival of loss-making discom, Haryana’s DakshinBijli Vitaran Nigan (DHBVNL) has reported a profit of Rs 201.35 crore in first half of 2016-17.

“DHBVNL has reported remarkable achievement of turnaround from loss Rs 479 crore in FY 2015-16 to a profit of Rs 201.35 crore in H1 2016-17 (April-September). DHBVNL has also reported the elimination of GAP from Rs 0.25/unit FY16 to Rs (-)0.19/unit in H1 FY17(on Energy Sold Basis),” a senior Power Ministry official said.

GAP is the difference between the Average Cost of Supply (ACS) per unit of power and per unit averagerealised (ARR). Thus DHBVNL’s cost of power supply is lesser than the realised per unit.

The official said that discoms total loss was Rs 815 crore in FY16 for both discoms. Year-wise projection of loss is Rs 2,911 crore FY17, Rs 1,878 crore FY18, Rs 456 crore FY19.

He further said that although the other discoms of the state Uttar Bijli Vitaran Nigam (UHBVNL) has not made profit in the first half of this fiscal but the losses have come down.

UHBVNL has reported a loss of Rs 1,233 crore in H1 FY17 against the loss of Rs 336 crore in FY16 (full year).

In UHBVNL, there is Lower Billing Efficiency of 67.01 per cent, high AT&C loss of 36.62 per cent and higher GAP of Rs 1.67/unit (per unit realised is less than the cost of service provided).

The official said the combined loss of two discoms at Rs 1,032 crore is lower than the target of Rs 2,911 crore for the entire fiscal.

He explained that the extrapolating half yearly loss gives an idea that losses will be lower at the end of the year than agreed projections.

with UHBVNL and DHBVNL had joined Uday on March 11, 2016. State has incurred a loss of Rs 815 crore in FY16 for both discoms combined and has given loss projections of Rs 2,911 crore for FY17, Rs 1,878 crore for FY18, Rs 456 crore for FY19 and finally profit of Rs 80 crore in FY20.

The official said that while DHBVNL is moving on the path of turnaround which is appreciable, UHBVNL needs to catch up fast to ensure that Uday targets are met within agreed time lines.