Hyderabad: Hyderabad Metro Rail suffered heavy losses during the first COVID-19 lockdown which continued for 169 days. The officials of L&T, the company which runs Hyderabad Metro, are appealing to the state government to help the company overcome the losses.
The Metro project in the city was launched under public and private participation scheme.
The L&T officials have met the chief minister K. Chandrashekar Rao and apprised him of the losses suffered by the company and appealed him to extend help to overcome such losses.
According to L&T officials, Hyderabad Metro is suffering losses at Rs.5 crore per day while its total daily income is not more than Rs.1 crore. About Rs.300 crore is required yearly to run the service.
Hyderabad Metro Rail faced Rs.400 crore loss during the first quarter of the current financial year which may touch Rs.1500 crore at the end of this year.
The state government is mulling over various proposals to salvage the company and taking initiatives to increase the number of passengers
