Rs 5 lakh profit per month recorded since Jan: MD
TEAM HERALD
teamherald@herald-goa.com
PANJIM: The Kadamba Transport Corporation has finally pulled up its socks and pulled itself out of the red. The thus far loss making corporation has raked in profits of almost Rs 5 lakh every month for the last eight months by implementing the concessional pass scheme which has been a welcome shot in the arm for KTC.
Further, the scheme has received overwhelming response with almost 15 to 20 percent rise in number of daily passengers applying for passes, KTC managing director Derrick Netto told HERALD.
The pass scheme, implemented from January 1, has attracted around 37,000 passengers with 250 applications being received on a daily basis.
The Corporation has so far issued 28,000 passes while the remaining are in the process of being issued.
Netto said that the concessional pass system has worked very well with corporation registering profit per month. He said that revenue will increase in ensuing days as the corporation expects to issue around 40,000 passes by end of this year.
Netto admitted that the financial position of KTC is not sound as it is incurring losses on daily basis.
“Our major loss is on non-profit route, where we are bound to ply as private players refuse to operate their buses here,” he said.
KTC for last couple of years has been reeling under heavy financial loss and had been seeking subsidy from the government. Several steps such as increasing number of routes and buses, were taken to overcome the crisis.
The total financial loss incurred by KTC was Rs 15 crore in 2012-13, Rs 14 crore in 2011-12, Rs 13 crore in 2010-11 and Rs 14 crore in 2009-10.
