In a remarkable milestone, Kochi Metro has reported its first-ever operational profit after a six years of service marking a significant turning point in its financial sustainability.The achievement not only underscores the growing success of the public transportation network but also signals a promising future for urban mobility in Kochi which is one of the major growing cities in the country.
Industries Minister P Rajeev on Friday took to social media to announce the major achievement of Kochi Metro. “Kochi Metro has achieved an operating profit of Rs 5.35 crore for the year 2022-23. Kochi Metro achieved this feat with a 145% increase in revenue compared to last year. It is a proud achievement to be profitable within a short period of time. Congratulations to all employees of KMRL for this achievement,” P Rajeev wrote in a Facebook post.
Officials said the Metro could become the most sought after public transport system in Kochi after it introduced various schemes for students and regular commuters, installing self-ticketing machines and ensuring better passenger service. Kochi Metro is expecting a significant improvement in revenue when the Thripunithura station becomes operational in the month of December-January and the second phase of the Kochi Metro becomes operational. Once the construction work of the metro rail connectivity to the Kakkanad section is completed, Kochi Metro will be able to solve traffic woes of thousands of daily commuters.
The Metro rail system, inaugurated in 2017, was initially met with cautious optimism. But over the years, it has played a pivotal role in alleviating traffic congestion, reducing pollution, and providing an efficient mode of transportation for millions of city residents. However, it had struggled to break even financially until now.
Experts attribute this achievement to several factors, including an increase in ridership, efficient cost management, and innovative revenue-generating initiatives.
Ridership on the Metro rail system has been steadily rising and commuters have recognised the convenience and reliability of the Metro as a preferred mode of transport contributing to the system’s financial success.