RTC reduces losses by Rs 71 crore
Hyderabad, Dec 12 (INN): The loss-making Andhra Pradesh Road Transport Corporation is on the path of fast recovery.
According to RTC Vice-Chairman and Managing Director AK Khan, compared to last financial year, the corporation's losses have reduced by Rs 71 crore this year.
Addressing a press conference here, Khan said that as compared to Rs 306 crore last year, the RTC's losses this year stood at Rs 237 crore.
Therefore, there has been steep decline in the losses by almost Rs 71 crore. The RTC's revenues too have increased by nearly Rs 700 crore in the last one year.
While the RTC earned Rs 4,287 crore as traffic revenue, this year's revenues were Rs 4,960 crore. He hoped that by the end of this financial year in March, the losses would get reduced further.
News Posted: 12 December, 2012
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