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KSRTC suffers highest-ever loss in a decade

  • KSRTC suffers highest-ever loss in a decade

    Summary: Besides, illegal operation by private operators, both on long-distance and short-distance nationalised routes, too is denting revenues of KSRTC, Mr. Vishwanath added. The Karnataka State Road Transport Corporation (KSRTC), one of the premier State transport undertakings in the country, has suffered a loss of ?177 crore during 2016-17, the highest in the past decade. KSRTC attributed this loss mainly to increased wages of employees, which cast an additional burden of about ?102 crore. Mr. Bhat told The Hindu that lack of discipline in operation of KSRTC services with erratic timings inconvenient to passengers was another reason for the losses. It posted a profit of ? 50.95 crore during 2015-16, while in the preceding two financial years it incurred a loss of ? 43.49 crore and ? 75.55 crore, respectively.

    The Karnataka State Road Transport Corporation (KSRTC), one of the premier State transport undertakings in the country, has suffered a loss of ?177 crore during 2016-17, the highest in the past decade. It posted a profit of ? 50.95 crore during 2015-16, while in the preceding two financial years it incurred a loss of ? 43.49 crore and ? 75.55 crore, respectively. Between 2006-07 and 2012-13, the corporation earned profit successively. KSRTC attributed this loss mainly to increased wages of employees, which cast an additional burden of about ?102 crore. Corporation’s Managing Director S.R , As Reported By Hindu.

    According to the Newspaper,Umashankar told The Hindu that increase in diesel price too had an impact on the cost of operations. KSRTC General Manager (Operations) K.S. Vishwanath said the corporation had deployed over 360 buses for city operations in many cities and towns under its jurisdiction during the year. The operations, generating about ?20 income per km as against ?32 cost, are yet to stabilise.

    Source: http://www.thehindu.com/news/cities/Mangalore/ksrtc-suffers-highest-ever-loss-in-a-decade/article19485116.ece


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