Hyderabad Metro Rail posts ₹1,766.74 crore loss
The Hindu
Metro Rail services were shut down for about six months due to COVID
The losses of Hyderabad Metro Rail, built and being run by concessionnaire L&T Metro Rail Hyderabad (L&TMRH), have ballooned to ₹1,766.74 crore during the financial year 2020-21 when the services were also shut down for about six months from March 23 to Sept. 8, 2020 due to the COVID-19 pandemic. This was against ₹382.20 crore loss posted in the previous year. Revenue from operations and other income was lower at ₹227.95 crore including fare and non-fare revenue as against ₹598.20 crore for the previous year. Fare collection revenue has been ₹83.98 crore and from other segments like commercial space, it was ₹143.97 crore. Annual financial statement attributed the fall in revenues to ‘disruption in the metro rail operations due to low ridership and real estate operational activities, fall in revenues as a consequence of revenue sharing model of lease rentals in the place of fixed rentals because of fall in footfalls and other additional costs to ensure health and safety of the employees’. The Board was told that by implementing safety and hygiene protocols of face masks, social distancing, workplace sanitation and employee awareness programs at all its offices and sites, it hopes to once again get people moving on the service. Reasoning is that the contactless, safe, punctual and affordable travel will make more people use the public transport system, what with the fuel prices hitting the roof.
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