MSRTC Records ₹941 Crore Revenue In November 2024, Daily Passenger Count At 60 Lakh
MSRTC Records ₹941 Crore Revenue In November 2024, Daily Passenger Count At 60 Lakh
Mumbai, December 17, 2024: The Maharashtra State Road Transport Corporation (MSRTC) achieved its highest monthly revenue for the year in November 2024, recording a landmark ₹941 crore. This increase in earnings coincided with the Diwali festive season, during which MSRTC transported an average of 60 lakh passengers daily, generating a daily income of ₹31.36 crore.
This year’s November earnings surpassed the previous year’s by ₹26 crores, despite the absence of the 10% festive fare hike implemented last year. Dr. Madhav Kusekar, Vice Chairman and Managing Director of MSRTC, attributed this growth to the public’s confidence in the corporation’s services.
However, operational costs have also risen significantly due to escalating fuel prices, increased employee wages, and higher costs for tires and spare parts. These factors have contributed to the corporation’s cumulative deficit, which now stands at ₹11,000 crores.
In addition to routine expenses, MSRTC faced an extra financial burden of ₹52 crores in November, owing to Diwali bonuses for employees. Outstanding arrears related to wage revisions, amounting to thousands of crores, further add to the challenges.
To address these financial pressures, MSRTC has proposed a fare hike to the state government, aiming to balance revenue and expenditure.
