KSRTC expects to log higher profits

The Karnataka State Road Transport Corporation expects to log higher profits in the present financial year, compared to Rs 52 crore in the previous fiscal, by stepping up advertising revenues and rental incomes from its assets, transport minister R Ashok said today.

He told reporters here that the Bangalore Metropolitan Transport Corporation clocked revenues of around Rs 50 crore in the last financial year. The Hubli division has accumulated losses of Rs 280 crore from 2003, the minister said, blaming the losses on “weak administration” and private operators, from whom the state-owned corporation had hired 500 buses, inflating maintenance and fuel bills.

Ashoka said he had directed officials to stop hiring buses from private operators. In the present financial year, KSRTC has bought 536 buses and BMTC 631 buses, he said.