Indian Railways Passenger and Freight Earnings Down in 8 Months of FY20

Slowing demand and pessimistic economic outlook have upset the Indian Railways’ financial plans for the year, as freight and passenger earnings have not only missed targets but also declined as compared to the same period last year.

Overall freight loading has seen a decline of 1.3% as compared to last year and is short of the target for the period by a significant 5.4%.

Indian Railways Freight Loading (in Million Tons)

S. N.RailwayActual upto  November  2018Target upto November 2019Actual upto November 2019(%)  Variation over Last Year  (%)  Variation over Target
1CR39.8842.4439.2-1.71-7.63
2ER41.8845.6540.86-2.44-10.5
3ECR87.5793.2496.4710.163.47
4ECoR123.8129.9127.73.2-1.66
5NR33.8334.7232.45-4.08-6.54
6NCR10.210.4510.06-1.37-3.72
7NER1.31.411.5216.927.45
8NFR6.286.566.381.59-2.72
9NWR15.4715.1111.05-28.6-26.9
10SR23.9724.4320.97-12.5-14.2
11SCR78.4682.371.59-8.76-13
12SER101.1105.5110.79.484.99
13SECR121.7124.7108.6-10.8-12.9
14SWR23.3324.8224.916.770.36
15WR55.5856.5852.43-5.67-7.34
16WCR26.0827.0125.5-2.22-5.58
17KRCL1.271.451.313.15-9.45
 IRTotal791.7826.3781.8-1.3-5.4

Similarly, Passengers Booked till November 2019 have declined 1.3% from the same period last year and are short of the target by 3%.

Passengers Booked from April to November 2019 (In Millions)

S. No.RailwayActual upto  November  2018Target upto November 2019Actual upto November  2019(%)  Variation over Last Year(%)  Variation over Target
1CR122012501202-1.4-3.8
2ER846.2866.9851.10.6-1.8
3ECR170.1171168.9-0.7-1.3
4ECoR66.2466.6565.99-0.4-1
5NR387388.8378.1-2.3-2.8
6NCR116.6117.3112-4-4.5
7NER129.3130.1133.43.12.5
8NFR73.5574.0175.7532.4
9NWR124.5125.4125.91.10.4
10SR559.7568.3549.3-1.9-3.3
11SCR258.8261.2252.4-2.5-3.4
12SER179.4182.7175.6-2.1-3.9
13SECR83.3184.2479.73-4.3-5.4
14SWR132.3133.1128.3-3-3.6
15WR106510901045-1.9-4.2
16WCR93.1493.7291.7-1.5-2.2
17METRO142.9147144.81.4-1.5
IRTotal564857515580-1.2-3

In keeping with freight loading performance, freight earnings have also declined by 4.3% compared to the same period last year, and have fallen short of the current year’s targets by a significant 19.7%.

Freight Earnings (In Crore Rupees)

S. N.RailwayActual  upto (November) 2018Target upto (November) 2019Actual upto (November) 2019(%) Variation w. r. t.  Last year (%) Variation w. r. t.  target 
1CR504154694547-9.8-16.9
2ER245633872419-1.5-28.6
3ECR582780245198-10.8-35.2
4ECoR899411219991810.3-11.6
5NR463554704372-5.7-20.1
6NCR594275125281-11.1-29.7
7NER995.91104942.2-5.4-14.7
8NFR1171151212073.1-20.2
9NWR304534792758-9.4-20.7
10SR196322361836-6.5-17.9
11SCR738388426407-13.2-27.5
12SER7988905487399.4-3.5
13SECR783187067775-0.7-10.7
14SWR17302079190310-8.5
15WR456950403382-26-32.9
16WCR546663105116-6.4-18.9
Total IR Total750388944271800-4.3-19.7

However, a silver lining has been visible with passenger earnings. Indian Railways improved passenger earnings by an average of 4% over the same period last year but fell short of the target for the same period by 5.3%.

Passenger Earnings (In Crore Rupees)

S. N.RailwayActual up to (November) 2018Target up to (November) 2019Actual  up to (November) 2019(%) Variation w. r. t.  Last year (%) Variation w. r. t.  target
1CR3737.344100.383851.743.1-6.1
2ER1568.181748.051634.764.2-6.5
3ECR1701.211802.861764.063.7-2.2
4ECoR1015.861083.791048.383.2-3.3
5NR4351.54859.644414.751.5-9.2
6NCR3276.123628.093361.192.6-7.4
7NER1088.011204.791172.427.8-2.7
8NFR897.16957.41941.224.9-1.7
9NWR1407.771553.391443.122.5-7.1
10SR2957.093248.943219.898.9-0.9
11SCR3443.13808.933682.276.9-3.3
12SER1104.911226.291156.594.7-5.7
13SECR761.61832.31805.975.8-3.2
14SWR1030.741119.21098.456.6-1.9
15WR3125.783391.113195.612.2-5.8
16WCR2298.4725222327.061.2-7.7
17Metro135.29150.09136.570.9-9
Total IR  33900.1437237.2735254.054-5.3

Overall, Indian Railways earnings for the period from April to November 2019 were short by 0.3% compared to last year but 16% below targets. The overall earnings include freight, passenger, other coaching and sundry earnings from various operational sources.

S. N.RailwayActual up to (November) 2018Target up to (November) 2019Actual up to (November) 2019(%) Variation w. r. t.  Last year (%) Variation w. r. t.  target 
1CR9393.8810443.479489.41-9.1
2ER4350.175701.964410.541.4-22.6
3ECR7677.7610024.727325.65-4.6-26.9
4ECoR10189.8412549.2611154.099.5-11.1
5NR10024.2712822.889140.86-8.8-28.7
6NCR9424.4411474.928884.4-5.7-22.6
7NER2211.242438.752252.781.9-7.6
8NFR2272.33174.083221.3841.81.5
9NWR4736.695479.174639.82-2-15.3
10SR5445.376180.45622.553.3-9
11SCR11233.1213167.2710485.5-6.7-20.4
12SER9368.5510661.4210193.768.8-4.4
13SECR8714.859745.598685.55-0.3-10.9
14SWR3002.843574.273225.317.4-9.8
15WR8444.549330.327663.61-9.2-17.9
16WCR7956.190827644.32-3.9-15.8
17Metro149.47175.74158.426-9.9
Total IR 114595.43136026.22114197.94-0.3-16

With limited success in reduction of working expenses, it remains to be seen how capex and maintenance work planned for the year will be impacted.

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