Delhi Metro reported Rs 1,785 crore loss in FY2020-21

New Delhi, India (Urban Transport News): The Delhi Metro Rail Corporation (DMRC) incurred losses of Rs 1,784.87 crores in the financial year 2020-21 with operations either curbed or stopped because of the Covid-19 pandemic, HT reported. 

The metro services on the Delhi Metro Rail network were shut for over five months last year during the nationwide lockdown and have been closed again for the past two weeks, as part of the Delhi government’s measures to curb the rapid spread of the Covid-19 infection. 

“There has already been a significant impact on DMRC’s revenues, and as long as the pandemic and associated travel norms are in place, losses are likely to remain or even increase with the passage of time. However, as a public service system, we are also committed to the cause of stopping the spread of the disease and will always extend all possible cooperation in this regard,” said Anuj Dayal, Executive Director (Corporate Communications), DMRC.

"Even though operations resumed after five-and-a-half months of complete shutdown — from March 22 to September 7 — last year, services were restricted to ensure Covid-appropriate behaviour. After the Metro restarted, the passenger capacity of each coach was reduced from 300-350 to just 50. To ensure that the trains are sanitized after each trip, the waiting time on each route also increased from an average of three to six minutes earlier to 15 minutes," said an official, HT reported.

As per the records shown by DMRC, Corporation’s revenue from traffic operations, which includes income from tickets, feeder bus services and shop rentals, and other services, fell sharply to Rs 895.88 crore in 2020-21, from Rs 3,897.29 crore in 2019-2020. Similarly, in 2018-19, their income from operational and non-operational sources was Rs 3,582.80 crore.

The financial books also show that in 2020-21, DMRC ran into deficits of Rs 1,784.87 crore, as against a surplus of Rs 758.01 crore in 2019-20. In 2018-19, DMRC recorded a surplus of Rs 1,027 crore.

Apart from these pandemic-induced losses, the DMRC has also been repaying Rs 808.70 crore of loans and Rs 433.85 as an interest to the Japan International Cooperation Agency (JICA), which helped the Metro fund expansion projects. Officials said the DMRC is in talks with the central government to find ways to ensure payments towards this loan do not suffer.