VRA Obtains GH¢10.8M Profit In 2022
According to the 2022 Auditor General Report, total income increased by 34% to ¢5.628 billion in 2022, from ¢4.199 million in 2021. The increase in total income was due to a 38.7% increase in revenue from power sales.
Freeman Koryekpor 
The Volta River Authority recorded a profit of ¢110.893 million in 2022, about 1.7% decline over the previous year, the 2022 Auditor General Report has revealed.
In 2021, the Joy news has reported that the Authority registered a profit of ¢112.758 million.
According to the 2022 Auditor General Report, total income increased by 34% to ¢5.628 billion in 2022, from ¢4.199 million in 2021. The increase in total income was due to a 38.7% increase in revenue from power sales.
On the other hand, total expenditure increased by 35.0%, from ¢4.086 billion in 2021 to ¢5.517 billion in 2022. This was mainly due to increases in cost of sales and depreciation.
In terms of the balance sheet, Non-Current Assets increased from ¢18.380 billion in 2021 to ¢26.008 billion in 2022, representing an increase of 41.5%. The increment was due to revaluation gains and acquisition of property plant and equipment during the year.
Current Assets also increased by 36.1% from ¢8.631 billion in 2021 to ¢11.751 billion in 2022 due to an increase in trade and other receivables.
