BENGALURU (Metro Rail News): Namma Metro increased ridership due to fully-functional Phase I network has helped Earn revenue from tickets sales by ₹79.92 crore in the Financial year 2018-19 compared to the previous financial year. Although, the loss in the same period has increased by more than ₹109 crore.
“The 42-km Phase I was operational only from June 2017 while 2018-19 saw the whole network being operational through the entire financial year,” Said Mr. Ajay Seth, Managing Director of BMRCL.
Eventually, 13.37 crore passenger trips were recorded on the metro in 2018-19 compared to around 11 crores in 2017-18. Revenue from operations increased from ₹324.99 crore in 2017-18 to ₹404.91 crore in 2018-19.
Further, he said that we have seen a 22.4% increase in passengers, but our income has risen by 24.6%. Per passenger revenue has increased by 50 paise to around ₹30.31, but expenses have increased by only 40 paise to ₹24.10. This saving has gone towards repayment of interest on loans. Of the ₹121 crore in financial expenses in 2017-18, BMRCL has paid ₹95 crore while the government should pay ₹26 crore, which is a considerable reduction from previous years.
The losses have touched ₹462.30 crore till March 30, 2019, up from ₹352.25 crore in 2017-18 shows unaudited balance sheet of BMRCL. This was in large part due to the depreciation of assets, as well as reduced income from the government, which has been reimbursing cash losses of the BMRCL.
Although losses were not a concern, more work needed to be done to address first-mile and last-mile connectivity. Ridership has, after all, plateaued around 3.7 lakh passengers per day, which is significantly lower than the expected ridership when the Phase I network was designed.