Kochi Metro’s Revenue Surges by 145%, Attains Operational Profit Milestone
Kochi Metro Rail Ltd. (KMRL) has experienced a significant upswing in its operational earnings. In the fiscal year 2022-23, KMRL has recorded a remarkable 145% increase in revenue compared to previous years, marking its first-ever achievement of operational profit. KMRL’s revenue has surged from Rs 54.32 crore in 2020-21 to Rs 134.04 crore in 2022-23.
The current year’s operating profit stands at Rs 5.35 crore, calculated based on the revenue generated and day-to-day operational expenses. The state government assumes responsibility for loans and other construction-related taxes for KMRL.
The substantial increase in passenger numbers has been a pivotal factor in KMRL reaching break-even for the first time. In the post-Covid period of July 2021, daily metro ridership was a mere 12,000 passengers. However, this number soared to 75,000 in September 2022 and further to 80,000 in January of the current year. Presently, it is estimated that over one lakh passengers utilize the metro daily.
Loknath Behra, Managing Director of KMRL, attributes this rapid achievement of operational profit to persistent efforts. Effective measures such as special programs for students and regular commuters, the installation of self-ticketing machines, and social media campaigns have proven successful in attracting passengers. Behra emphasizes that delivering quality service has been a pivotal factor in this accomplishment.
KMRL’s released figures indicate that it has managed to reduce operating losses from previous years through prudent cost-cutting measures. Metro officials are optimistic that once the Tripunithura station becomes operational and the second phase of the metro network is completed, even larger profits can be generated.
