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Wed Jan 23 07:29:26 IST
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Blog Entry# 3559620
Posted: Jun 22 2018 (08:21)

1 Responses
Last Response: Jun 22 2018 (08:24)
Rail News
IR Affairs
BMRC/Bangalore Metro
Jun 22 2018 (08:20)   Namma Metro still running in the red overall, but operational profits surge

a2z~   12807 news posts
Entry# 3559620   News Entry# 342384         Tags   Past Edits
The Bangalore Metro Rail Corporation Limited (BMRCL) has registered a loss of `538.05 crore for the financial year ending March 2018.
BENGALURU:The Bangalore Metro Rail Corporation Limited (BMRCL) has registered a loss of Rs 538.05 crore for the financial year ending March 2018. This is an increase of over Rs 80.17 crore over the previous financial year. However, the silver lining is that operational profits have surged due to the commissioning of the entire Phase-I from June 2017.
Senior BMRCL officials told The New Indian Express that the depreciation of its assets and
the high interest being paid to lenders was the reason the company was in the red and will continue to be in the near future.  
“Our depreciation for the financial year just concluded stands at Rs 151 crore. The annual interest being paid has gone up now since the full Phase has become operational. It stands at Rs 110 crore now, up by Rs 44 crore from April 2016-March 2017,” said a top official. The interest is being paid for the Rs 5,600 cr-plus loans taken for the 42.3-km Phase-I from JAICA, AFD and the bonds it has issued to raise funds.
The revenue from operations has increased after North-South and East-West Corridors were connected. The operational income stands at Rs 324.95 crore for 2017-2018 up from Rs 130.27 crore the previous financial year.
“From the operational aspect alone, we have met all our expectations with daily revenue often hovering near the Rs 1 crore mark. It is set to increase with six-cars entering the scene now,” he said. By the end of the financial year 2018-2019, BMRCL can hope to have no cash-loss, the official added. Barring depreciation, the Corporation will be on a sound footing financially.
Asked about the chances of BMRCL making overall profits, the official said, “Making profits will take a very long time. There is tremendous infrastructure investment in the projects and it takes decades to repay debts.”

1 Public Posts - Fri Jun 22, 2018

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