BENGALURU: The Bangalore Metro Rail Corporation Ltd is finally set to see a surplus this financial year as its operation loss has come down by half. It has suffered an operational loss of Rs 27.52 crore for the financial year ending March 2017, down by over 50% that of the previous financial year. The audited results have just been released.
This is the first full year assessment of the operational performance following the inauguration of the Underground Corridor of the East-West Line on April 30, 2016.
“This is a news to cheer and on the expected lines. Compared to the loss of Rs 60.35 crore during the financial year 2015-2016 which was an 82% increase over the previous financial year (2014-2015), the nearly Rs 28 crore loss for 2016-2017 shows that revenues have started flowing in after the full East-West Line (Baiyappanahalli to Mysore Road) was commissioned,” said a senior Metro official.
The ridership figure stood at 1.6 lakh riders each day then. “With the entire Phase-I launched for commercial operations from June 18 and the average touching around 3.2 lakh per day, the operational loss will definitely disappear and we are set to see a surplus figure on the operational front in this financial year’s audited results,” he added.
BMRCL has also effected a fare hike ranging between 10% and 15% depending upon the footfall seen at a station, a move aimed at increasing the fare revenue.
As per the March 31, 2017 results, the overall income from operations stood at Rs 130 crore (Rs 130, 27, 80,000), a nearly three-fold increase over the Rs 44.97 crore income as per March 2016 results. Taking into account, the depreciation of around Rs 364 crore and the interest of Rs 66 crore, the overall loss comes to Rs 27.52 crore, he pointed out.
“Depreciation refers to the sum that needs to be compulsorily set apart annually in order to replace the assets available now after a period of time,” the official explained.
Rain helps Metro cross 3.5 lakh ridership figure again
Thanks to the fierce rains that lashed the city on Wednesday evening, ridership on Metro trains crossed the 3.5 lakh figure, only the second time in BMRCL’s history that this ridership has been achieved. As per the figures supplied by the Chief Public Relations Officer, U A Vasanth Rao, the ridership touched 3,50,060. While the Purple Line (Baiyappanahalli to Mysore Road) had 1,98,416 commuters, the Green Line (Nagasandra to Yelachenahalli) had 1,51,644 commuters. This marks a personal best for both the lines. “The revenue through ticketing fare touched an all-time high of Rs 95.76 lakh,” said an official. BMRCL managing director Pradeep Singh Kharola said, “This is the second time we are crossing 3.5 lakh within a week. We had 3.57 lakh riders last Friday (August 11). Our ridership is growing every week.” The Lal Bagh flower show was held last week which also had a long weekend.