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After incurring losses for two straight years, the Gujarat Metro Rail Corporation (GMRC) has finally moved onto the track of profitability from Ahmedabad and Gandhinagar.
In FY 2023-24, metro’s total revenue stood at ₹872 crore, while the net profit after tax was ₹238.93 crore. In comparison, over the previous two years, the metro had incurred losses of ₹46.53 crore and ₹320.85 crore, respectively.
During FY 2023–24, GMRC incurred expenses of ₹75.56 crore and depreciation of ₹311.75 crore. As per the 2024 report, financial works worth ₹6,670.43 crore are underway.
In this period, 1.99 crore passengers were recorded on the East-West corridor and 94.18 lakh on the North-South corridor, amounting to a total of 2.93 crore passengers — an average of 80,184 commuters daily.
Passenger-based revenue has been growing by about 30% annually. In 2023, the metro’s annual revenue from passengers was ₹32.12 crore, which rose to ₹43.62 crore in 2024. Moreover, in just the first six months of this year, metro has already earned ₹27.13 crore.