HRTC’s Financial Revival: Record 37.5% Revenue Surge in August 2024

The Himachal Pradesh Transport Corporation (HRTC) is celebrating a remarkable financial turnaround, with earnings soaring by an impressive 37.5% in August 2024. The corporation’s income surged to ₹70 crore this August, a significant increase from ₹51 crore last year and ₹58 crore in August 2022, showcasing a consistent upward trend.

This substantial revenue growth is the result of several strategic initiatives, including setting monthly income targets for all HRTC depots and closely monitoring each route. Rationalizing routes has also been crucial in reducing losses and enhancing the corporation’s financial health.

Rohan Thakur, Managing Director of HRTC, expressed optimism about the corporation’s future. “Our earnings have increased by a record 37.5 percent in August. Our efforts to cut unnecessary expenses and boost income have resulted in this significant revenue increase. We aim to raise the corporation’s revenue to ₹80 crore this financial year,” Thakur stated.

A key factor in this revenue spike has been the uninterrupted operation of most HRTC routes, even during the challenging rainy season. Buses continued to run via transshipment on routes blocked by landslides, ensuring minimal disruption. This proactive approach has resulted in HRTC earning ₹48 crore more in the first five months (April-August) of the 2024 financial year compared to the same period last year.

The increased earnings have enabled HRTC to tackle critical operational challenges. Timely payments to spare parts dealers and diesel suppliers have significantly reduced bus breakdowns and diesel shortages. Additionally, a new ticket management system has enhanced passenger convenience, allowing fares to be paid via UPI, debit card, and credit card. An improved inventory management system in HRTC workshops has also helped in effective cost management by curbing unnecessary purchases of spare parts and equipment.

HRTC’s financial stability is further reflected in the timely disbursement of salaries to its employees. For the past nine months, 11,000 employees have received their salaries on the first day of each month, a significant improvement from previous delays of 10 to 15 days.