Bengaluru Metro makes its largest profit of Rs. 130 crore ever
Bangalore Metro Rail Network Corporation Limited (BMRCL) has recorded operating profits for the second consecutive fiscal year. For the fiscal year 2023–2024, it reached a record-breaking Rs 129.3 crore, according to Metro sources who shared the preliminary numbers they had prepared. Additionally, at that time, it had 23.28 crore riding on its network, which now spans 73.8 km.
“The revenues are in line with what we had anticipated,” a senior Metro official said. We have excess cash on the operating front since our fares generate a revenue of Rs 735.48 crore while our expenses are Rs 606.18 crore.
“More ridership will result from any new line. This operational surplus has been facilitated by the establishment of the vital connection between KR Pura and Baiyappanahalli stations and the Purple Line’s October 9, 2023, expansion to Challaghatta.
In contrast, with our revenue of only Rs 594.01 crore, the fiscal 2022–2023 saw ridership of 17.72 crore and an operating surplus of Rs 108 crore. “Considering the previous fiscal year of 2021–2022, when our income was just Rs 228.76 crore and our expenses were 345.6 crore, resulting in a loss of Rs 118 crore, this is still a remarkable success for us. It is evident that self-sufficiency in operations is the trend, and this bodes well for BMRCL.
“The fiscal results are very promising for us,” said A S Shankar, executive director of BMRCL’s operations and maintenance division. It demonstrates that, as we had predicted, the population is gravitating toward Metro travel. It has also been aided by BMTC’s help in expanding its feeder services across our stations. When the R V Road-Bommasandra Line is inaugurated in December of this year, ridership will soar, and our profits will follow suit.
According to B L Yashavanth Chavan, Chief Public Relations Officer of BMRCL, the average daily ridership for the just ended fiscal year was 6.36 lakh. When questioned about the effect of the link to K R Pura, he said that 1.05 lakh people boarded the Baiyappanahalli to Whitefield (Kadugodi) train on average each day. Passenger hubs no longer exist at Baiyappanahalli.
When it comes to foot traffic, Benniganahalli has surpassed Nadaprabhu Kempegowda Interchange as the busiest station. He said that Indira Nagar and Nagasandra together hold the third place.
An increase in ridership
BMRCL has reached the 8 lakh ridership per day mark twice this week and is finally inching closer to it. Because so many CET test students chose to ride the Metro, we had a passenger total of 7.96,577 on Thursday, April 18, according to Shankar. Its ridership was 7,92,505 on April 15 because of an IPL match and schedule extension. It only went beyond 8 lakh once, on August 15, 2022, when 8.25,190 people rode it during a Congress rally and Independence Day flower extravaganza in Lal Bagh.
