Net cash loss of Bengaluru Metro up this fiscal

Bengaluru: The Bangalore Metro Rail Corporation Ltd (BMRCL) has incurred a net cash loss of Rs 54.77 crore this financial year as against a loss of Rs 29 crore reported last year.

The farebox revenue was Rs 376.88 crore compared to Rs 355.02 crore last year, a growth of 6.16 percent in operational revenues, a statement said. An operational cash surplus of Rs 54.20 crore was achieved despite the impact of the Covid-19 on ridership and suspension of operations from March 22, the statement said.

“After adjusting the interest on loans of Rs 108.97 crore during the year, BMRCL registered a net cash loss of Rs 54.77 crore as against a loss of Rs 29.00 crore last year,” it said.

In terms of non-fare box revenue, a revenue of Rs 41.91 crore was made against Rs 47.33 crore last year, which is attributed to the loss of revenue on account of the ban on outdoor advertisement by BBMP (Bruhat Bengaluru Mahanagara Palike) and reduction in the rental income from property development due to the lockdown.

“BMRCL has accounted for reimbursement of cash loss by the Karnataka government to an extent of Rs 43.00 crore. With the capitalization of all the Metro Phase-I assets, the depreciation charge works out of Rs 583.90 crore during the year. As a result, BMRCL incurred a higher accounting net loss of Rs 598.58 crore this year compared to Rs 498.41 crore last year,” the statement said.