Kochi Metro earn 30.80 cr revenue in FY 2021-22

KOCHI (METRO RAIL NEWS): Kochi Metro Rail Ltd. (KMRL) earned net revenue of Rs. 30.80 crores in the fiscal year 2021–2022

Shri Kaushal Kishore, the Union minister of state for housing and urban affairs stated that Kochi Metro made Rs 15.24 crore income during the first three months of the 2022–23 fiscal year.
He was responding to a Rajya Sabha query about the revenue specifically received in India by the operational Metro rail projects over the course of the previous three years and the current year.
The report says, Kochi Metro generated Rs 12.90 crore of total revenue in the 2020–21 fiscal year and Rs 56.77 crore in the last year 2019-2020.
KMRL has yet to publish their annual report for the previous fiscal year, which will include information on revenue and operational loss or profit.
“The Metro rail corporations have reported a fall in revenue for the fiscal years 2020–21 and 2021–22 as a result of the pandemic-related suspension of Metro services for about six months in FY 2020–21 and approximately two months in FY 2021–22. Due to the protocol of Covid-19 restrictions and the non-operation of many sectors, private companies, educational institutions, etc., after the services were resumed in FY 2021–2022, low ridership was observed “stated the minister.

Just after the Pandemic, Kochi Metro has seen a spike in passenger traffic, which has already significantly aided KMRL’s efforts to generate non-ticket revenue through business kiosks and office space in Metro stations.

By the end of the third wave of Covid in December, last year, there were an average of 65,000 persons using Metro services daily, as stated by KMRL. However, downfall in number of passengers to 36,000 when the fourth wave began in January 2022.

As in May 2022, increasing number of passenger progressively rose to 72,000 each day. The number has now decreased to an average of more than 65,000 travellers each day as the monsoon arrives. On June 17, the fifth anniversary, of the Kochi Metro, the daily footfall had surpassed one lakh.