Namma Metro recorded Rs 79.92 crores revenue from ticket sales in the Financial Year 2018-19 compared to 2017-18, Metro Rail News reports.
“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,” the Managing Director of Bangalore Metro Rail Corporation Limited (BMRCL) Ajay Seth said,
In 2018-19, the metro recorded 13.37 crore passenger trips compared to 11 crores, in the previous year. The income from the operations also increased from Rs 324.99 crore to Rs 404.91 crore this year,
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.
Namma Metro has also recorded a 22.4 per cent increase in passengers, leading to the rise of income by 24.6 per cent.
However, the earnings were not enough to prevent the losses in the same period to cross Rs 109 crore, the unaudited balance sheets of BMRCL revealed. Losses till 30 March 2019 have reached Rs 462.30 crore, increased from Rs 352.25 crores in 2018-19 owing to the depreciation of assets and reduced income from government.
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.