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Bangalore Metro Rail Corporation Limited (BMRCL) has achieved 6.16 per cent higher operational farebox revenue at ₹376.88 crore in FY2019-20 as compared with ₹355.02 crore recorded in the same period last year.
As a result, BMRCL has achieved an operational cash surplus of ₹54.20 crore for FY20 despite adverse impact on the ridership in March this year and suspension of metro operations from March 22 due to the Covid-19 pandemic.
However, after adjusting the interest on loans of ₹108.97 crore during the year, BMRCL registered a net cash loss of ₹54.77 crore as against the net cash loss of ₹29 crore reported in the previous year.
As far as the corporation’s non farebox revenue is concerned, it has reported a revenue of ₹41.91 crore in FY20 as compared to the previous year’s revenue of ₹47.33 crore. The loss of revenue was recorded on account of ban on outdoor advertisement by BBMP and reduction in the rental income from property development due to the lockdown in the month of March 2020.
BMRCL has accounted the reimbursement of cash losses by the Karnataka government to the extent of ₹43 crore during the year 2019-20, which pertains to the cash losses incurred by the company in FY18 and FY19, based on its accounting policy of accounting reimbursement of such cash losses only in the year of actual receipt.
During FY20, there has been an increase in the expenditure of around ₹39.49 crore on account of full year’s impact of salary and wage revision, increase in energy charges due to six-car trains and higher expenditure towards maintenance due to completion of defect liability period of Phase I contracts.
Further, with capitalisation of all the Phase-1 assets, the depreciation charge works out of ₹583.90 crore during the year. As a result, the corporation incurred a higher accounting net loss of ₹598.58 crore in FY20 as compared to the net loss of ₹498.41 crore in the previous year.
Operational highlights
There has also been a significant increase in ridership, revenues, reduction of headway during non-peak hours and several such improvements in metro operations. The metro network recorded its highest boarding of 6,01,164 commuters on October 25, 2019 and highest daily revenue of ₹1.67 crore on March 2, 2020.
On the punctuality of the metro service, it was 99.8 percent which is rated as one of the best amongst all metro rail operators in the country.
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