Konkan Railway witnesses record 22% growth in earnings; declares Rs 120 crore profit
Continuing its steady performance, Konkan Railway Corporation Limited has seen a 22% growth in its overall earnings and has posted a Rs 120 crore net profit for the financial year 2015-16. The figure has been due to the strong earnings from freight movement and passenger, Traffic Chairman and Managing Director Sanjay Gupta said.
According to The Times Of India, though Indian Railways witnessed a marginal increase in earnings, the MD said that Konkan Railway had bucked the trend and witnessed a 50% increase in revenue from freight movement. The increase in net profit was also aided by the drop in global crude oil prices, which brought the cost of electricity and Diesel down. “Our average expenditure and purchase of fuel and power has gone down,” the MD added.
In a bid to continue enhancing standards, Konkan Railway has approached Indian Railway Catering and Tourism Corporation to set up and operate a new food court at Madgaon railway station.