MSRTC reports profit of Rs 16 crore in August, first time in 9 years

The Maharashtra State Road Transport Corporation (MSRTC) has for the first time in nine years reported a profit after facing difficulties for the past five to six years, in the process achieving a significant financial turnaround, officials said on Thursday.

The state owned MSRTC's recorded a profit of Rs 16.86 crore in August, the said. A total of 20 out of 31 divisions have reported profits, an MSRTC release said, adding the turnaround came about from discontinuing bus services on loss-making routes and diverting them to routes with high passenger demand, which optimized operations.

"Additionally, the percentage of non-operational buses has been reduced by half, from 12 per cent to 6 per cent, compared to the previous year. Regular training sessions for drivers and mechanics have also resulted in a 0.52 km increase in diesel efficiency, leading to significant fuel savings.

These concerted efforts culminated in the MSRTC reporting a profit of Rs 16.86 crore in August," the release stated. While MSRTC faced challenges during the Covid-19 pandemic and a prolonged strike by employees, the introduction of schemes such as free travel for senior citizens and 50 percent concession for women saw ridership increasing to 54 lakh passengers per day.

"MSRTC also implemented various initiatives like 'Hinduhridayasamrat Balasaheb Thackeray Clean and Beautiful Bus Station Campaign' and 'Student Pass' scheme," it said.

MSRTC chairman-managing director Dr Madhav Kushekar congratulated employees and officers and expressed confidence the corporation will continue to report profits in the future.