Kerala's Kochi Metro has achieved a significant milestone by recording its first-ever operating profit since it commenced operations six years ago. The metro system, which began serving the public in 2017, has witnessed an impressive surge in passenger traffic, resulting in a remarkable 145 percent increase in revenue during the 2022-23 fiscal year compared to the preceding year.
Kochi Metro Rail Limited (KMRL) reported a substantial rise in revenue, with earnings surging from Rs 54.32 crore in the 2020-21 fiscal year to an impressive Rs 134.04 crore in 2022-23. This fiscal year's operating profit stands at an encouraging 5.35 crores.
In celebration of this noteworthy achievement, Kerala's Chief Minister, Pinarayi Vijayan, expressed his optimism that it would "bolster the state's development prospects."
Vijayan emphasized the crucial role that state-of-the-art infrastructure plays in the advancement of any developed society. He highlighted the commitment of the Left Democratic Front (LDF) government to transform Kerala into a knowledge-driven society and the government's dedication to establishing efficient and advanced public transportation systems. He also underscored the significance of the Kochi Metro's achievement in supporting these developmental initiatives.
The Chief Minister acknowledged that despite a substantial decrease in ridership during the COVID-19 pandemic, KMRL's determined efforts successfully attracted more passengers to the metro system. By January 2023, the average daily ridership had surpassed 80,000 passengers and even achieved the noteworthy milestone of exceeding 100,000 passengers, a remarkable achievement noted by the Chief Minister on his Facebook page.
In a historic feat, the Kochi Metro experienced an unprecedented surge in passenger numbers during the opening match of the Indian Super League (ISL). An astounding 117,565 individuals utilized the Kochi Metro services until 10 PM on that memorable day.
The state government has high hopes for a substantial boost in revenue with the forthcoming launch of the second phase of the Kochi Metro, which will connect to the Kakkanad section, home to Kerala's most vital IT parks.
KMRL has outlined plans to further enhance profitability to meet its financial commitments, including loan repayments and tax obligations.
Currently, the Kochi Metro network spans 27.4 kilometers and features 24 stations.
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