New Delhi, Sep 23 (UNI) Maintaining its distinction as one of the few Metros of the world generating profits, the Delhi Metro Rail Corporation (DMRC) has recorded an operational profit of Rs 398.69 crore for the financial year 2006-07.
The profit by DMRC marks a 15 per cent increase over the operational profit of Rs 346.53 crore during the previous year, DMRC spokesperson Anuj Dyal said.
DMRC began commercial operations in 2002-03 and has been making operational profits since then. This has been possible as the organization has harnessed alternate sources of revenue, kept the number of its personnel to the minimum and curbed overhead expenses.
In 2006-07, DMRC generated a total revenue of Rs 542.78 crore from operations, real estate, consultancy and other sources of income. After meeting all the expenditure (except interest and depreciation), an operating profit of Rs 398.69 crore was generated.
After adjustment of interest and depreciation, DMRC earned profit before tax of Rs 23.59 crores during the financial year 2006-07.
After prior period adjustment of Rs 0.36 crore, the net surplus stood at Rs 23.23 crore, the spokesperson said.
DMRC has one of the lowest fare structures in the world, other than the Kolkata Metro. To keep the fares at a low level, the corporation has extensively harnessed its resources other than operations. These include lease rentals and property development. In fact, DMRC is funding about five per cent of the cost of Phase-II from its internal resources, generated from Phase-I earnings.
The fully operational Phase-I, consisting of 65.1 kms, carries an average of 6.15 lakhs commuters per day, with the highest ridership in a day recorded so far at 7.36 lakhs with the actual Metro train occupancy on that day standing at 10.5 lakhs as 43 per cent commuters used two or three lines in each trip.
Internationally, out of 135 Metros worldwide, only four make an operating profit apart from Delhi. These include Hong Kong, Taipei, Singapore and Tokyo. This is because Metro construction is very capital intensive as a result of which governments subsidise or support Metro operations. The social and economic benefits of the Metro are very high for the citizens of a city.
To meet the requirements of the growing number of passengers, DMRC has added 10 train sets this year and will procure another 15 for Phase-I next year.