FINANCIAL PERFORMANCE OF KONKAN RAILWAY

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The Konkan Railway Corporation (KRC) has made steady progress in its train operations, earnings and customer orientation over the last five years since 1998-1999.

During 2002-2003, KRC earned Rs. 227.76 crores, which after meeting its expenditure of Rs. 146.03 crores resulted in operating surplus of Rs. 81.73 crores. This recorded an increase of 85.96 per cent over the previous year.

The operating ratio without depreciation, during the year, was 64.12 and with depreciation 95.

The other highlights of the company included gross revenue for the year at Rs. 212 crores, with an increase of Rs. 33.09 crores over the last year, percentage increase being 18.50 per cent, institution of Konkan Railway Freight Transport Users Group for the first time on Indian Railways, passenger traffic being main revenue generating activity, a growth of Rs. 33.27 crores in coaching earnings (23.4 per cent) with a total coaching earning of Rs. 175.48 crores in 2002-2003 as compared to Rs. 142.21 crores in the previous year with freight operations remaining at the same level. RO-RO service on KRC earned Rs. 7.53 crores, which is the single largest earning from originating traffic.

Financial results of the company amounted to 23.48 per cent increase every year on an average of gross revenues. Besides, earnings before interest, depreciation, taxes and amortization (EBIDTA) increased by 414.35 per cent in five years.

Of the five equity partners in KRC, the Government of India in the Ministry of Railways, Maharashtra, Karnataka, Kerala and Goa, there is an outstanding equity of Rs. 14.4194 crores against the Government of Maharashtra, Rs. 5.2379 crores against the Government of Goa and Rs. 0.3879 crores against the Government of Kerala.