BENGALURU: In the clearest indication of Bangalore Metro Rail Corporation Limited (BMRCL) recovering from the massive beating it took in terms of both revenue and passengers, the operational revenue from the first half of the 2021-2022 financial year shows a four-fold increase over the corresponding period last year. A recent Board meeting held by BMRCL gave its approval for the half-yearly results.
Due to the pandemic, BMRCL had shut down operations from three months (April 28 to June 20) in 2021 while it closed operations from six months (March 21 to September 6) in 2020. It functioned only with restricted hours even after it opened up and has only last week resumed train operations for 17.5 hours a day. The surplus in operational revenue suffered a massive beating due to the closures taking it back to operational losses.
A top official of BMRCL said that the operational income (under which both fare revenue as well as non-box revenue is clubbed) stood at Rs 57.81 crore for April to September this year as compared to Rs 15.66 crore during the corresponding period last year. “This is a four-fold increase and definitely an indication that BMRCL is now recovering financially from the massive slump in operational revenue. Going by these trends, we are looking at having an operational profit within the next six to eight months,” he explained.
The ridership trend is gradually becoming healthy. In the last one week, the average ridership hovered around 3 lakh passengers a day as compared to an average daily ridership of 5.26 lakh before COVID struck, the official said.
The total borrowings of BMRCL stood at Rs 25,481 crore which also includes the interest free debt lent by both the State and the Centre, reveals the half-yearly balance sheet. In addition to it, there is the owners equity (owners share) of Rs 10, 892 crore. “There are adequate funds available and there are no financial problems for our projects,” he explained.
The financial cost estimate for Phase-II stands at Rs 26,485 crore with an additional Rs 14,788 crore for Phase 2A (Outer Ring Road Line) and Phase 2B (Airport Line). Phase-I had cost BMRCL Rs 13,485 crore.