Ahmedabad metro reports ₹239 cr profit after two consecutive years of losses

After incurring losses for two straight years, the Gujarat Metro Rail Corporation (GMRC) has finally moved onto the track of profitability from Ahmedabad and Gandhinagar.

In FY 2023-24, metro’s total revenue stood at ₹872 crore, while the net profit after tax was ₹238.93 crore. In comparison, over the previous two years, the metro had incurred losses of ₹46.53 crore and ₹320.85 crore, respectively.

During FY 2023–24, GMRC incurred expenses of ₹75.56 crore and depreciation of ₹311.75 crore. As per the 2024 report, financial works worth ₹6,670.43 crore are underway. In this period, 1.99 crore passengers were recorded on the East-West corridor and 94.18 lakh on the North-South corridor, amounting to a total of 2.93 crore passengers — an average of 80,184 commuters daily.

Metro earned ₹37.96 crore from passenger travel. Moreover, it generated non-fare revenue of ₹2.55 crore, largely through brand advertisements on metro property. The corporation received a total of 1,820 complaints from passengers, of which most were related to travel, 137 were related to civil works, and 95 were related to security. According to sources, this data is from FY 2023–24. With route expansions in FY 2024–25, profits are expected to rise further.

Passenger-based revenue has been growing by about 30% annually. In 2023, the metro’s annual revenue from passengers was ₹32.12 crore, which rose to ₹43.62 crore in 2024. Moreover, in just the first six months of this year, metro has already earned ₹27.13 crore.

Metro rail revenue in the last 6 months

Ahmedabad Metro earns over ₹102 cr in 2.5 yrs, serves over 8 cr commuters