The Hindu Business Line : APSRTC makes profit after 10 years

Hyderabad March 28 Putting behind a 10-year rough phase, the Andhra Pradesh State Road Transport Corporation has registered a profit of Rs 79 crore up to February this financial year.

"Compare this against a loss of Rs 200 crore last year," Mr V. Dinesh Reddy, Vice-Chairman and Managing Director of the Corporation, said.

During the year, the Corporation transported 1.25 crore passengers a day as against 1.16 crore last year, as the occupancy rate went up to 68 per cent as against 65 per cent last year.

Addressing a press conference here on Wednesday, Mr Reddy said it was for the first time in 10 years that the Corporation registered profits. "We could achieve profits notwithstanding the Rs 170-crore burden in the form of wage hike and increase in the cost of operations," he said.

Attributing the achievement to efficiency and better utilisation of resources, he thanked the Government for reducing vehicles taxes and reimbursement of concessions given by it.

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