In a remarkable achievement spanning six years, the Kochi Metro Rail Limited (KMRL) has posted an operational income exceeding Rs 100 crore for the past fiscal year. The profit for FY23 stands at Rs 5.32 crore.
Kerala Chief Minister Pinarayi Vijayan expressed his satisfaction with this achievement, stating, “The metro rail has seen a substantial upsurge in operational income compared to previous years.” Vijayan took to Facebook to share this news and added, “KMRL has achieved a remarkable 145 percent increase in revenue during the financial year 2022-23, along with securing an operational profit.”
He went on to detail, “Kochi Metro’s operational income has surged from Rs 54.32 crore in 2020-21 to an impressive Rs 134.04 crore in FY 2022-23.” He also highlighted the metro’s resilience, having overcome numerous challenges, including those posed by the COVID-19 pandemic.
Vijayan emphasized the vital role of public transport in fostering national development and how the metro contributes to the state’s progress. He stressed the importance of state-of-the-art infrastructure for societal development, revealing that the Left government is actively pursuing projects to transform Kerala into a knowledge society. “We are also formulating plans to enhance and modernize public transportation systems across the state,” he declared.
Notably, the metro rail had incurred losses of Rs 56.56 crore in 2020-21 and Rs 34.94 crore in 2021-22. Loknath Behera, Managing Director of the Kochi Metro Rail Ltd, attributed the transformation to cost-cutting measures and increased passenger engagement, stating, “The metro’s profitability was achieved through expense reduction and attracting a larger ridership.”
However, it’s important to note that despite this operational profit, KMRL is yet to recoup the initial construction costs.
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