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Journalism of Courage
At a time when the entire world is reeling under a financial crunch,Konkan Railway has earned a record earning from freight in the last financial year. For the first time since the beginning of its operations,Konkan Railway has earned a record Rs 300 cr alone from freight traffic in 2008-09,which,given the general economic slowdown all over the world,is nothing short of spectacular.
As per Konkan Railway sources,the Debt-Equity ratio has also taken a positive swing from the approximate ratio of 7:1 in 2007-08 to 0.55:1 in 2008-09. It is all done by the recent Financial Restructuring of KRCL,thus paving way for the corporation to reach a break-even point in the near future.
The freight earning of Rs 300 crore in 2008-09 is an increment of almost 12% over the previous year. As in other zonal railways,the global recession did affect the freight traffic on Konkan Railway too,albeit only in the last quarter of 2008 and that too only for a certain segment. The traffic in this segment again picked up in January 2009 and made up for the loss of earnings in the last quarter of 2008.
Konkan Railway,which earned Rs 725 crore in 2008-09,has also registered a growth of 8% as compared to the previous year from 2854 million to 3080 million. There was a marginal increase in number of freight trains also.
According to Chief Public Relations Officer Vaishali Patange,Konkan Railway,The financial restructuring of the corporation has enabled correct reflection of the financial status of the Corporation and improved its Debt-Equity ratio,thus making KRCL a company with positive net worth. With this,Konkan Railway will now be able to bid for big infrastructure projects.
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