Aurora Energy achieved a before-tax profit of $20.9 million in 2020-21, turning around its $7.7 million loss from the year before.
The profit meant it was able to pay a $6.3 million dividend to the government this year.
The company reported in its annual report that it received a comprehensive income of $43.3 million last financial year - again, another turnaround on the $73.1 million loss it made on the year before.
It said while the economic impact of COVID-19 had not been as severe as initially expected, the pandemic continued to present financial risk to Aurora Energy.
"Aurora Energy is currently working with customers to address the increased debt accumulated during the height of the COVID pandemic," it said in its report.
"In addition, the economic impact of continued sporadic lockdowns and the resulting impact on customer payment behaviour will continue to be monitored."
The company said it did not anticipate the need to access borrowings at this stage.
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