The Bangalore Metro Rail Corporation Limited (BMRCL) for the first time since 2012-13 has registered an operational profit, The Hindu has reported.
The usage of the metro has increased after concluded Phase I began operations last June. An operational profit of Rs 73.11 crores between April 2017 to March 2018 was declared in the recently released annual report of BMRCL. During the period, BMRCL spent Rs 264.1 crores on operations and maintenance. The total revenue generated by Namma Metro was Rs 337.21 crores.
“This has given immense confidence to the company about achieving break-even level of operations in the current financial year 2018-19 even with a marginal surplus, which helps meet a part of its debt obligations,” the report states.
The operational profit will be used to clear debts and expenses of the previous years. For the last two financial years, BMRCL has recorded a loss of Rs 93.67 crore and Rs 38,73 crores respectively.
Since the extension of Phase I upto Yelachenahalli, revenues have risen to 158 per cent compared to the last financial year. Average ridership has increased on the Purple Line by about 55.52 per cent (1.72 lakh passengers per day). Green Line has seen 238 per cent (1.26 lakh commuters) rise in ridership.
The Managing Director of BMRCL, Ajay Seth said that BMRCL is working with Bangalore Metropolitan Transport Corporation (BMTC) on a common mobility card, enabling passengers to travel on both metro and city buses.