Bangalore Metro achieves record profit of ₹130 Crore in FY2023-24

Bengaluru, India (Metro Rail Today): In a remarkable feat, the Bangalore Metro Rail Network Corporation Limited (BMRCL) has announced its highest-ever operational profit for the fiscal year 2023-2024, marking the second consecutive year of profitability. According to Metro sources familiar with the provisional figures, the operational profit has soared to ₹129.3 crore. This achievement is coupled with a substantial increase in ridership, reaching 23.28 crore passengers during this period across its expanding network, which now spans 73.8 km.

A senior official from the Metro commented, "The revenues have met our expectations, with fare income totaling ₹735.48 crore and operational expenses at ₹606.18 crore, resulting in a surplus in our operational finances."

The introduction of new metro lines has played a significant role in boosting ridership and revenue. The establishment of the vital link between KR Pura and Baiyappanahalli stations, along with the extension to Challaghatta on the Purple Line on October 9, 2023, has notably contributed to the operational surplus.

Compared with the previous fiscal year of 2022-2023, which saw a ridership of 17.72 crore and an operational surplus of Rs 108 crore, the current figures represent substantial growth. Even more striking is the contrast with the fiscal year 2021-2022, during which the revenue was a mere ₹228.76 crore, resulting in a significant loss of ₹118 crore. This trend towards self-sufficiency in operations bodes well for the future of BMRCL.

A S Shankar, the Executive Director of Operations and Maintenance at BMRCL, expressed optimism about the results, stating, "The fiscal outcomes are highly promising, indicating a growing inclination towards metro travel among the public, as anticipated." He also attributed the increase in feeder services provided by BMTC across metro stations as a contributing factor to this success. Shankar further predicted a surge in ridership and earnings with the launch of the R V Road-Bommasandra Line scheduled for December this year.

B L Yashavanth Chavan, the Chief Public Relations Officer of BMRCL, disclosed that the average daily ridership during the concluded financial year stood at 6.36 lakh. He highlighted the impact of connectivity to K R Pura, noting that the average boarding figure from Baiyappanahalli to Whitefield (Kadugodi) reached 1.05 lakh daily, effectively reducing Baiyappanahalli's role as a major transit hub.

In terms of station footfalls, the Nadaprabhu Kempegowda Interchange station retained its position as the top station, while Benniganahalli emerged as the second busiest. Indira Nagar and Nagasandra stations jointly occupied the third position.

BMRCL is on the cusp of achieving an 8 lakh per day ridership figure, having surpassed it twice in recent days. "On Thursday (April 18), we recorded a ridership figure of 7,96,577, driven by candidates traveling for the CET exam," Shankar revealed. This followed another notable milestone on April 15, with a ridership of 7,92,505 attributed to an IPL match and extended operating hours. The only previous instance of breaching the 8 lakh mark was on August 15, 2022, during a Congress rally and the Independence Day Flower show at Lal Bagh, which saw 8,25,190 riders.