Southern Railway reports 5.61% growth in revenue

Southern Railway reports 5.61% growth in revenue

Southern Railway has reported a revenue of Rs 4,546 crore during the first half of the current fiscal ended September 30, 2015, an increase of 5.61% compared to same period last year.

Revenue from passenger traffic increased by 11.3% to Rs 2,367 crore from Rs 2,040 crore, a year ago. "It has been a good year for us so far," said Vashishta Johri, General Manager, Southern Railway.

For 2015-2016, target set for Southern Railway was to achieve a revenue of Rs 9,070 crore, an increase of 19% compared to last year.

Johri said Rs 1,038 crore was allocated for gauge conversion, doubling and new lines, so far Rs 467 crore was spent.

According to him the average monthly number of passengers has increased to 68 million in September 2015 as against 64 million in April.

S Anantharaman, Chief Operations Manager, Southern Railway said that cargo originating loading reported a drop of 16% in the first half to 20 million tonnes due to diversion of cargo to other regions, including South Western Railway. However, there has been an improvement in coal loading.

The ministry has fixed a target to load 42 million tonnes of cargo for the current financial year and 349 million passengers, he said.

On MRTS work between Velachery and Guindy, Johri said that expansion was getting delay due to land acquisition in a stretch of nearly 500 metres.

"Earlier, the land owners were provided compensation. However, they have approached the Court for higher compensation. The matter is yet to be settled," he said.