The Assam Power Distribution Company Limited (APDCL), which is in the news for its loss-making tradition since its inception, has now been able to overcome the jinx and is heading towards earning a profit for the first time in its 14-year-long existence.
Till March 31, 2017, the accumulated loss of the public sector power utility was Rs 2,974.92 crore as was evident from the audited figures of its economic performance during the 2016-17 financial year.
The APDCL has also been able to improve its position in the Integrated Credit Rating Agency (ICRA) ratings. It has now got its position elevated to the 22nd among the 41 public and private distribution companies (Discoms) of the country. In 2015-16, it was 29th in the ICRA rating. This rating is important for the power companies in securing government or private financial institutions’ support.
Sources claimed that the APDCL would be able to earn a profit of around Rs 100 crore during the financial year 2017-18. In this respect, sources refer to a rough estimate done on the APDCL finance for the financial year. However, a clear picture with the exact amount of profit would be available by the end of September, when the statutory audit of the APDCL accounts would be completed.