Indian Railways Clocks Record Revenues in FY17

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The Indian Railways has likely managed to notch up the highest ever revenue of Rs 1.68 lakh crore in FY17, reported an article in the Economic Times today. It had posted a total revenue of Rs 1.62 lakh crore last fiscal.

Discounts offered on certain commodity movement, favourable changes in freight usage charges and dynamic pricing for premium passenger trains were some of the initiatives undertaken, among other initiates last year helped boost freight and passenger movement in the country subsequently aiding in hitting record numbers.

In the fiscal gone by, the passenger segment is estimated to have added Rs 2,000 crore in revenue from the previous year to post about Rs 48,000 crore. Freight revenue also reportedly increased to Rs 1.09 lakh crore from Rs 1.04 lakh crore previous fiscal. Miscellaneous income like that from sale of scrap, advertising rights etc. totalled Rs 11,000 crore.

The national transporter exceeded its targeted cargo carriage of 1.094 billion tonnes for FY17, the national transporter managed to clock 1.107 billion tonnes of cargo in the year ended March 31, surpassing its most recent target of 1.094 billion tonnes for fiscal 2017. What the railways lost on coal freight business last fiscal year due to weak demand for the dry fuel, it made up for by transporting more iron ore, making it a record loading.

However, despite the record revenues what remains to be seen is the improvement in its operating ratio or the amount spent to earn every Rs 100. Increase in salary bill, particularly from implementation of the seventh pay commission, has led operating ratio to remain around 95%. This leaves the carrier with marginal funds to take up safety and maintenance projects.

Content Courtsey: MoneyControl

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