Hyderabad: Metro ridership to drop by early 2024

Hyderabad: Infrastructure major Larsen & Toubro Limited (L&T) witnessed a marginal decline in the average daily ridership of Hyderabad Metro in the first quarter of FY25, the company said during its Q1FY25 earnings call. Ridership declined to 4,32,000 passengers per day from April to June 2024 as against 4,42,000 passengers per day in the same period of the previous fiscal (Q1FY24).

Despite the quarterly decline, the year-on-year comparison showed improvement. The average daily ridership in Q1FY24 (April to June 2023) was 4,22,000 passengers. P. Ramakrishnan, Head of Investor Relations at L&T, shared the figures and delved into the financial implications. Hyderabad Metro reported a net loss of Rs 2.14 billion in Q1FY25, significantly narrowing from the loss of Rs 3.35 billion in Q1FY24.