BANGALORE (metro Rail News): In the second year of full-fledged operations of phase I of Namma Metro, the farebox revenue of Bangalore Metro Rail Corporation Limited (BMRCL) has increased from ₹281 crores in 2017- 18 to ₹ 355 crores in 2018-19, registering a growth of 26.34%.
The BMRCL has stated that it had achieved an operational cash surplus of ₹83.5 crores in the previous financial year.“After considering the interest on loans amounting ₹112.50 crores, the net cash loss for 2018-19 is ₹29 crore as against the previous year’s net cash loss of ₹37.58 crores,” states the release.
It adds that there has been an increase in operational expenses owing to salaries, wages, the introduction of six coach trains and maintenance and energy costs. The state government has reimbursed cash losses to the tune of ₹202.27 crores for the period of 2013-2016 and ₹116.39 crores for 2016-17 and partially for 2017-18.
The improved operational performance leading to a reduction of cash losses enabled BMRCL to seek lesser cash support from the Government of Karnataka, the release states.
The release further states that the net loss of the company has increased from ₹352.25 crore to ₹498.41 crore due to higher depreciation charged on the assets for the full year.
Namma Metro has been able to record its highest daily ridership of 4.49 lakh on October 17, 2018, and the highest daily revenue of ₹1.4 crores on September 3, 2018. The Namma Metro trains operated at punctuality of 99.8% which is rated to be the best amongst all metro rail operators in the country.
The Bangalore Metro Rail Corporation Limited (BMRCL) had initiated full-fledged operations of the entire phase-I (42 km) in June 2017.