{"id":124,"date":"2024-07-04T05:53:21","date_gmt":"2024-07-04T05:53:21","guid":{"rendered":"https:\/\/bangaloremetrotimings.com\/blog\/?p=124"},"modified":"2024-07-04T05:53:24","modified_gmt":"2024-07-04T05:53:24","slug":"namma-metro-sees-threefold-increase-in-profit-as-more-commuters-ride","status":"publish","type":"post","link":"https:\/\/bangaloremetrotimings.com\/blog\/namma-metro-sees-threefold-increase-in-profit-as-more-commuters-ride\/","title":{"rendered":"Namma Metro Sees Threefold Increase in Profit as More Commuters Ride"},"content":{"rendered":"\n<p><strong>Record ridership boosts Namma Metro&#8217;s profit before depreciation, reducing pre-tax loss by over Rs 350 crore in FY 2023-24.<\/strong><\/p>\n\n\n\n<p>Thanks to a surge in ridership, Namma Metro reported a threefold increase in profit before depreciation and managed to cut its pre-tax loss by over Rs 350 crore in the financial year 2023-24.<\/p>\n\n\n\n<p>This marks only the second time Namma Metro has seen a profit before depreciation since it began operations in 2011. The metro network, which is now the second largest in India at 73.8 km, showed a significant improvement in its ability to manage finances effectively.<\/p>\n\n\n\n<p>A high-ranking official from the Bangalore Metro Rail Corporation Limited (BMRCL) summarized the financial performance, stating, &#8220;<em>After adjusting for foreign exchange variations, Namma Metro\u2019s pre-tax loss reduced by Rs 355 crore (Rs 578.09 crore vs Rs 222.45 crore).<\/em>&#8220;<\/p>\n\n\n\n<p>Despite these gains, non-fare revenue streams still need attention. However, the future looks promising with <a href=\"https:\/\/bangaloremetrotimings.com\/blog\/namma-metro-route\/\">Bengaluru\u2019s metro network<\/a> expected to expand to 175.5 km by 2026 and 256.7 km by 2031.<\/p>\n\n\n\n<p>Currently, Phase 2, 2A, and 2B are under construction, while Phase 3 is awaiting the union Cabinet\u2019s approval. Additionally, Phase 3A\u2019s Detailed Project Report (DPR) has been prepared, setting the stage for further expansion.<\/p>\n\n\n\n<p>In addition, Namma Metro is pushing for a <strong>fare hike<\/strong>. A decision on this will be taken by a high-powered committee to be constituted by the union government, as stated by the first official. The decision is expected next year.<\/p>\n\n\n\n<p>Namma Metro&#8217;s growth and financial turnaround highlight its importance as a vital part of Bengaluru&#8217;s transportation infrastructure, offering commuters an efficient and expanding metro service.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Record ridership boosts Namma Metro&#8217;s profit before depreciation, reducing pre-tax loss by over Rs 350 crore in FY 2023-24. Thanks to a surge in ridership, Namma Metro reported a threefold increase in profit before depreciation and managed to cut its pre-tax loss by over Rs 350 crore in the financial year 2023-24. This marks only [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":126,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-124","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","et-has-post-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Namma Metro Sees Threefold Increase in Profit as More Commuters Ride<\/title>\n<meta name=\"description\" content=\"Record ridership boosts Namma Metro&#039;s profit before depreciation, reducing pre-tax loss by over Rs 350 crore in FY 2023-24.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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