The Hindu Business Line : RTC Q1 profit at Rs 140 cr

The Andhra Pradesh State Road Transport Corporation, which has been incurring losses for almost a decade since 1996-97 has turned corner earning a profit of Rs 140 crore during the first quarter this fiscal.

The corporation recorded losses of Rs 225 crore in 2004-2005 and Rs 42 crore in 2005-2006 and this turn around was achieved without hiking the rates.

CM IMPRESSED

The AP Chief Minister, Dr Y.S. Rajasekhara Reddy, praised this feat after a review meeting of the corporation, which is one of the largest State public undertakings.

The Chief Minister, according to a statement, directed a Group of Ministers to examine the report prepared by the Indian Institute of Management (IIM) - Bangalore and submit their recommendations by the August end.

Dr Reddy congratulated the workers for their collective effort in rewriting the performance of the corporation and enquired about the progress made by the corporation in terms of taking to bio-diesel usage in the RTC fleet.

The Managing Director of APSRTC, Mr M.V.Krishna Rao, said that RTC operated 62 crore km and carried 118 crore passengers to various destinations. The crew productivity increased to 158 km from 142 km in 2004.

The occupancy ratio in RTC buses touched 71 per cent up to June , which is considered to be amongst the highest in the country.

More Stories on : Roadways | PSU | Andhra Pradesh

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Cargoitalia adds Chennai and Delhi to its network

HAL bags $30-m Israeli order

BIAL signs catering pacts

Insat to Panama ship rescue

Kochi port's rate hike proposal worries users

Indianoil Petronas to set up LPG unit at Chennai port

Railways to finalise order for 9,000 wagons soon

Madhucon inks pact with NHAI for TN road project

RTC Q1 profit at Rs 140 cr