Rs.140 crore profit posted for the first quarter of 2006-07
Hyderabad, July 19, 2006The Andhra Pradesh State Road Corporation (APSRTC) for the first time after a decade registered a profit of Rs.140 crores during the first quarter this financial year. APSRTC was running on loss for the past one decade. The reduction of loss during the last two years was attributed to the assistance received from the State Government and improvement of its efficiency. The Chief Minister complined the the employees for their dedicated services which resulted in making the Corporation to a profit level.
He said APSRTC has set up an example for the loss making other Public Sector Undertakings with its corrective measures. Transport Minister K.Lakshminarayana speaking to reporters that the Chief Minister has directed the corporation to absorb the burden of higher oil prices without taxing the commuters. The Government has decided to revise the pay scales of the employees by five per cent with effect from April 1.
APSRTC Managing Director, MV Krishna Rao said that the Corporation had operated 62 crore km and carried 118 crorore passengers till June 2006. The crew productivity level has been increased to 158 km from 142 km which was recorded in 2004. He commented that the regular training programmes has helped the employees make the Corporation to bag three national prestigious awards.
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