Hyderabad Metro reports loss in Q4FY24, cites impact of Mahalakshmi scheme – Telangana Today


This scheme to provide free bus facility to women has affected the average ridership of the Metro.

Published date – May 11, 2024, 03:52 pm


Hyderabad Metro reports loss in Q4FY24, cites impact of Mahalaxmi scheme


Hyderabad: Hyderabad Metro Rail has reported a loss for the quarter ended March 31 (Q4) of the financial year 2023-24 (FY24), mainly due to the implementation of the Mahalakshmi scheme. This scheme to provide free bus facility to women has affected the average ridership of the Metro.

According to official data released by engineering group Larsen & Toubro (L&T), average ridership per day increased from 4.08 lakh passengers in Q4FY23 to 4.41 lakh passengers in Q4FY24. However, this growth was lower than the average ridership of 4.44 lakh passengers per day in Q3FY24.


P. Ramakrishnan, head of investor relations at L&T Ltd, said during the Q4FY24 financial report that the slight decline in ridership compared to the previous quarter was mainly due to the impact of the Mahalakshmi scheme on passenger numbers.

Meanwhile, L&T Chief Financial Officer, R Shankar Raman expressed during a post-earnings conference call that strict orders from IT companies for employees to return to office work could potentially impact the ridership for the Hyderabad Metro project. Can promote.

He noted that although some IT companies have said that employees returning to the office may get promotions and salary increases, it remains to be seen whether employees are willing to transition to the convenience of remote work.

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