For the first time in its history, the Himachal Pradesh State Electricity Board Limited (HPSEBL) has earned a record profit of Rs 315 crore in the financial year 2024-25. After years of continuous losses, this is the highest profit ever recorded by the Board.
A government spokesperson on Friday said that the turnaround is being seen as a result of bold steps and visionary decisions taken by the state government in steering the state towards economic stability.
This milestone is not just a financial achievement but also a reflection of the government’s vision of a “Nai Soch, Naya Himachal, he added.
“Until 31 March 2024, HPSEBL was reeling under accumulated losses of Rs 3,742 crore. However, through reforms, transparent policies, and strict financial discipline, the present government helped the Board recover and achieve profitability,” the spokesperson said.
From the day Chief Minister Sukhvinder Singh Sukhu assumed office, he laid emphasis on economic reforms and good governance, holding detailed meetings with officials and directing public sector undertakings to work with efficiency and move towards self-reliance.
HPSEBL translated this vision into practice by implementing cost-cutting measures, improving revenue streams, and ensuring financial discipline, which together resulted in this remarkable turnaround, he added.
“With the Board’s improved financial position, the government has also extended significant financial benefits to employees. For 2024-25, an amount of Rs 368.89 crore has been approved for gratuity, medical reimbursement, revised pension arrears, and leave encashment—up from Rs 87.56 crore in the previous year. Out of this, Rs 187.86 crore had already been disbursed by 31 July 2025,” he informed.
The Chief Minister congratulated the management, officers, and staff of HPSEBL on this historic achievement, saying the success was the result of a clear policy, honest governance, and a welfare-oriented approach.
He added that the government would continue to introduce reforms in all public undertakings to make the state economically stronger and provide affordable, better services to the people.
With collective effort, he expressed confidence that the Board would become fully self-reliant, benefiting not only employees and officers but also the people of the state.
Highlighting the reforms in the education department, he said that due to these efforts, Himachal Pradesh has climbed from 21st to 5th position in the country in terms of quality education, leaving behind 16 other states.