The Pandemic has dealt a massive blow to Hyderabad Metro Rail, which is already posting massive losses. The losses of the project have ballooned to ₹1,766.74 crores during the financial year 2020-21. This is mainly due to the total shutdown for about six months from March 23 to September 8, 2020, during Lockdown.
This was against the ₹382.20 crore loss posted in the previous year. The revenue from operations and other income of fare and non-fare revenue has fallen by more than half. It is 227.95 Crore in 2020-21 when compared to ₹598.20 crores for the previous year. The project also suffered due to the disruption in the real estate revenues.
The commercial establishments and the malls run by the concessionaire L&T Metro Rail Hyderabad (L&TMRH) have recorded low footfall due to the Pandemic. Moreover, the cost of following the safety measures also burdened the project. As a result, the metro rail services are only recording a few thousand ridership of a few thousand compared to the near five lakh riders and ₹40 crores a month revenue before the Pandemic.
The officials are hoping that normalcy would return only when most of the population is vaccinated and when the offices open. The officials are also hoping that the ballooning fuel prices will also push people to use safer public transport systems in Metro in the coming days. The L&T Top bosses recently met Chief Minister K Chandrasekhara Rao seeking government intervention in the form of some financial support.