Mumbai: The Maharashtra State Road Transport Corporation (MSRTC) has achieved a notable financial turnaround, reporting a profit of Rs 16.87 crores for August 2024. "This marks the first profit for the corporation in nine years, a significant milestone after a prolonged period of financial losses" said an official.
The MSRTC, which had been struggling with financial difficulties due to the COVID-19 pandemic and a prolonged employee strike, had been operating at a loss since 2015. However, the introduction of new state government schemes in May 2022—such as free travel for senior citizens over 75 and a 50% discount for all women—has significantly boosted passenger numbers. Currently, the corporation operates around 14,000 buses and connects over 40,000 villages to urban areas, with an average daily ridership of 5.4 million.
In addition to these measures, the MSRTC has implemented several innovative programs over the past year. "Initiatives like the "Hinduhryadsamrat Balasaheb Thackeray Clean and Beautiful Bus Station Campaign," direct school passes for students, Passenger Day, Workers Parent Day, and pilgrimage tours during the Shravan month have contributed to improved service and efficiency. The proportion of defective buses has been halved from 12% to 6%, and fuel efficiency has increased by 0.52 km per litre, resulting in significant savings" said an official.
The corporation has also focused on guiding its divisions that were consistently running at a loss, holding meetings with local staff, and rerouting buses to more profitable routes.
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"With these strategic actions and the addition of self-owned and leased buses to the fleet, MSRTC aims to maintain its profitability and restore its former status as a leading transport provider" futher added official.
Dr. Madhav Kusekar, Vice Chairman and Managing Director of MSRTC, praised the efforts of all officers and employees, urging them to sustain their efforts to ensure continued profitability.
