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Andhra Pradesh
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Hyderabad
RTC in profit mode, first time in 10 years
Special Correspondent
V. Dinesh Reddy
HYDERABAD:
The State-owned Road Transport Corporation has declared a profit of Rs. 78.99 crores until February-end, against a loss of Rs. 200 crores in the last fiscal.
At a press conference here on Wednesday, Vice-Chairman and Managing Director V. Dinesh Reddy said the RTC was out of the red for the first time in 10 years, despite a Rs. 170-crore burden due to wage hike and increasing cost of consumables, primarily high-speed diesel and lubricants.
Improved efficiency
He attributed the profit to an attitudinal change and improved efficiency in the workforce, optimal utilisation of resources, re-branding and positioning of the services and support from the Government in the form of reduced MV tax and total reimbursement of concessions.
Also, occupancy ratio had gone up from 65 per cent last year to 68 per cent now. Chief Mechanical Engineer P. Narayanaswamy said an elaborate exercise of rationalisation and standardisation of destination boards for special type services throughout the State had been completed.
Mr. Reddy released a time-table to be introduced by any State transport undertaking for the first time in the country. The 360-page book contains every detail that a commuter requires.
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