Business Standard

Haryana power utilities earn profit of Rs 38 cr in Q1 FY'19


Press Trust of India Chandigarh
The power utilities in Haryana have earned a profit of Rs 38 crore for the first quarter of the 2018-19 fiscal, an official spokesman said.
"This has been achieved by consistent efforts made by the utilities to recover from the losses. The profit would be utilised for creation of additional transmission infrastructure in the state," he said here Friday.
He said that power utilities have discontinued manual accounting system with effect from April 1, 2018 and switched over to Enterprise Resource Planning (ERP) solutions in all its accounting units.
The ERP allows an organisation to use a system of integrated applications to manage the business and automate many backoffice functions related to technology, services and human resources.
"With the implementation of ERP, the accounting transactions are recorded online on real-time basis in all the accounting units and then compiled at the head office (Panchkula). This ensures transparency in the accounting system besides efficiency," he said.

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Sep 28 2018 | 4:00 PM IST

Explore News