L&T Hyderabad Metro posts ₹916-cr loss in first half, seeks Government support.

L&T Metro Rail (Hyderabad) Ltd. has posted a ₹916-crore loss during the first half of the current financial year 2020-2021 and an income of ₹60 crore against a loss of ₹87.8 crore and income of ₹277.26 crore for the corresponding six months of the previous financial year.

As a part of the nationwide lockdown, metro rail services were suspended from the last week of March 2020. They were resumed partially from the first week of September 2020.

For the financial year ended March 31, 2020, the company has posted a loss of ₹382.20 crore and income from operations of ₹598 crore.

Having posted a loss of over ₹900 crore due to the lockdown, the company has sought support from the Telangana Government for the mega public-private partnership (PPP) project citing the force majeure clause.

In the meantime, the Metro has announced attractive discounted tariffs during the festive season.

HBL