The Konkan Railway Corporation (KRCL) has posted the highest net profit in its history at Rs 120 crore in financial year 2015-16, a top executive said here today.
“Despite the Indian railway facing a low revenue growth for last financial year, the Konkan Railway has reported the highest net profit in its history at Rs 120 crore which is almost three times more than 2014-15,” KRCL Chairman and Managing Director Sanjay Gupta told reporters.
He said the overall earnings have gone up by 15 per cent and that the profit is in three-digit for the first time.
“The total revenue for 2015-16 was Rs 1500 crore,” he added.
On KRCL’s performance in the last fiscal, Gupta said its freight revenue went up by 50 per cent.
“The Indian Railway reported low revenue due to low growth of core sectors like coal, iron and steel, exports, which contribute to over 70 per cent of freight revenues,” he said, adding that changes in the National Policy is “positively” affecting the transportation sector.
Gupta said KRCL looks at brighter future due to freight traffic.
“If mining peaks up in Karnataka and some of its ports open up then we will see jump in the revenue,” he stated.