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EESL makes net profit of Rs 355.9 million for 2015-16

EESL makes net profit of Rs 355.9 million for 2015-16

By BizLED Bureau

Jan 4, 2017: Indian government-run Energy Efficiency Services Ltd (EESL) has registered a net profit of Rs 355.9 million for 2015-16, which is an increase of Rs 265.3 million over 2014-15.

K K Sharma, Chairman, EESL, said that the company is growing at an exceptional pace and poised for a big leap in 2017.

During the financial year 2015-16, EESL registered a revenue of Rs 7088.4 million from operations. It has declared Rs 106.8 million towards dividend for 2015-16 in comparison to Rs 27.2 million in 204-15. The net worth of the company as on March 31, 2016 increased from Rs 1103.3 million to Rs 2080.3 million.

EESL is a joint venture company of NTPC Limited, Power Finance Corporation Ltd, Power Grid Corporation of India Limited, Rural Electrification Corporation Ltd under Ministry of Power.

With energy efficiency in the forefront, EESL was formed with the aim to create a market for energy efficiency through a business plan. This has taken a huge turn and about 180 million LED bulbs and 1.5 million LED streetlights have already been distributed at low cost in India.

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