L&T company that manages Hyderabad Metro has decided to request the Telangana government to hike the ticket prices. Though 5.10 lakh people take the Metro daily, the losses too are in the same measure, say L&T officials.
The Company is lamenting that it is losing Rs 1.5 crore daily by running the services. Hence it is planning for fare revision on all the three routes it operates.
Though the details are yet to come out, the officials hint at the possibility as losses have accumulated since Metro’s inception in 2017.
It is said L&T has piled up Rs 6500 crore losses and is now fearing financial sustainability. They feel the move is vital to ensure Metro does not remain a non-performing asset.
The officials say that all measures have been taken to increase revenue streams, but a hike might be imminent. At present the fare is as low as Rs 10 for 2 km and Rs 60 for over 26 km. If the hike happens, it is most likely to hit daily commuters.
Last month, in Bengaluru, the ticket price was hiked to Rs 90 for beyond 25 km. L&T shares that the fares have not been increased since inception despite inflationary pressures.
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