Indian Railways profit falls 93 pc in two years
Indian Railways will earn a profit of Rs 951 crore in 2009-10, down 93 per cent from the 2007-08 level.delhi Updated: Feb 24, 2010 17:12 IST
Indian Railways will earn a profit of Rs 951 crore in 2009-10, down 93 per cent from the 2007-08 level.
While the 2009-10 Railway Budget presented in July last year projected profits at Rs 2,642.26 crore, the estimate has been revised downwards by 64 per cent to Rs 951.03 crore.
For the next fiscal, the budget estimates a profit of Rs 3,173.09 crore.
India's largest employer that employs 14 lakh people had registered a record profit of Rs 13,431.09 crore in 2007-08. From FY'08 to FY'10, the fall in profit is 93 per cent, as per the Railway Budget presented in Parliament today.
Profits had started showing a decline even in 2008-09, when it come down to Rs 4,456.78 crore. Year-over-year the fall in profit is about 79 per cent.
Gross traffic receipts have consistently risen since fiscal 1951-52, the year from which the statement showed financial figures for the Indian Railways.
The revised estimates puts gross traffic receipts at Rs 88,355.91 crore for 2009-10, and the budgetary estimate for the next fiscal's gross traffic receipts is Rs 94,764.95 crore, the Railway Budget paper said.