MSRTC Achieves Financial Turnaround with First Profit in Nine Years

The Maharashtra State Road Transport Corporation (MSRTC) reported a profit of Rs 16.86 crore in August, marking its first profit in nine years. The turnaround was achieved through route optimization, reducing non-operational buses, increasing fuel efficiency, and implementing various schemes. MSRTC's ridership also increased to 54 lakh passengers daily.

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

The state-owned MSRTC recorded a profit of Rs 16.86 crore in August. A total of 20 out of 31 divisions have reported profits, according to an MSRTC release. The turnaround was credited to discontinuing bus services on loss-making routes and redirecting them to routes with high passenger demand, optimizing operations.

Additionally, the percentage of non-operational buses has been reduced by half, from 12 percent to 6 percent, compared to the previous year. Regular training sessions for drivers and mechanics 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.

Despite challenges during the COVID-19 pandemic and a prolonged strike by employees, the introduction of schemes such as free travel for senior citizens and a 50 percent concession for women increased daily ridership to 54 lakh passengers. MSRTC also implemented initiatives like the 'Hinduhridayasamrat Balasaheb Thackeray Clean and Beautiful Bus Station Campaign' and the 'Student Pass' scheme.

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

(With inputs from agencies.)