Kochi Metro Rail Ltd (KMRL) has reported an operating profit for the third consecutive financial year, a milestone achievement that reinforces the long-term viability of metro-based public transport in Kerala’s commercial capital. For the 2024-25 fiscal, KMRL posted a surplus of Rs 33.34 crore, up by Rs 10.4 crore compared to the previous year. This sustained profitability underlines the system’s improving operational efficiency and increasing commuter confidence.
According to official data, the Metro generated a total operating income of Rs 182.37 crore in the past year. Of this, ticket sales contributed Rs 111.88 crore, and non-fare revenues such as property rentals, advertising, and commercial partnerships brought in Rs 55.41 crore. An additional Rs 1.56 crore came from consultancy services, while miscellaneous sources contributed Rs 13.52 crore. Operating expenses were recorded at Rs 149.03 crore. KMRL began operations in June 2017, closing its first full year with a Rs 24.19 crore loss. However, by 2022-23, it registered its first operating surplus of Rs 5.35 crore. Officials attribute this financial turnaround to a combination of improved asset utilisation, cost optimisation strategies, and a diversified revenue model that goes beyond ticketing.
Experts involved in the strategic financial planning for KMRL noted that operational profit calculations exclude capital-intensive outlays such as depreciation, interest, and non-motorised transport infrastructure investments. This approach is in line with accounting practices used across global urban transit systems, providing a clearer picture of financial performance. Central to the Metro’s revival has been the rebound in daily ridership. From an initial average of 59,894 in mid-2017 that sharply dropped within months, ridership crossed 80,000 by early 2023 and now hovers around one lakh passengers per day. The resurgence, especially in the post-COVID period, has strengthened the Metro’s revenue base while alleviating pressure on the city’s road network.
According to KMRL officials, sustained investment in passenger experience has yielded dividends. Features like enhanced station accessibility, improved train frequency, and integrated last-mile connectivity have made the Metro an increasingly attractive option for urban commuters. In alignment with national urban sustainability goals, KMRL has also prioritised energy-efficient operations and green infrastructure. Revenue from non-ticketing avenues is being strategically reinvested into climate-friendly upgrades and improved commuter amenities, aligning with the broader push for equitable and low-emission urban mobility.
While KMRL’s journey began with financial challenges, the consistent operating surplus now signals a maturing transit system with lessons for other Tier-II cities in India. As urban centres grapple with traffic congestion and rising emissions, the Kochi Metro presents a working model for resilient and financially sustainable public transport.
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