Chandigarh, Aug 1 —Punjab State Power Corporation Limited (PSPCL) has reported a net profit of ₹2,630.42 crore for the financial year 2024–25, according to its audited profit and loss statement. This marks a substantial rise from its ₹800.41 crore profit in 2023–24, and a dramatic recovery from the accumulated loss of ₹4,775.93 crore as of March 2023.
The state-run utility’s total income rose to ₹49,570.44 crore—up by ₹5,615.90 crore from the previous year’s ₹43,964.54 crore. Total expenditure, including power purchases and operational costs, stood at ₹46,940 crore, compared to ₹43,164 crore last year.
The biggest expense component remained power purchase costs, which increased to ₹31,954.22 crore, up from ₹28,801.92 crore last year. Generation expenses from PSPCL’s own plants also rose to ₹3,697 crore from ₹3,372 crore.
Revenue from operations totaled ₹27,217.81 crore, while the Punjab government provided subsidies worth ₹20,693.06 crore, and other income stood at ₹1,659.57 crore.
“Running its own coal mine and making optimal use of its generation capacity helped PSPCL boost profitability,” said VK Gupta, spokesperson for the All India Power Engineers Federation. “The corporation benefited from being headed by a former engineer for several years, which improved technical efficiency.”
Despite concerns over the rising subsidy burden on state finances, PSPCL’s performance has been viewed as a bright spot, underlining the importance of internal reforms, better resource management, and technical leadership in public sector utilities.
