The loss-making Andhra Pradesh Road Transport Corporation is on the path to recovery.
According to RTC Vice-Chairman and Managing Director A K Khan, compared to last financial year, the corporation's losses have been reduced by Rs. 71 crore this year.
Addressing a press conference, Khan said that compared to Rs. 306 crore last year, the RTC's losses this year stood at Rs. 237 crore, with a steep decline of Rs. 71 crore of losses.
The RTC's revenues, too, have increased by nearly Rs. 700 crore in the last one year. While the RTC earned Rs. 4,287 crore as traffic revenue, this year's revenues were Rs. 4,960 crore. He said that he hoped that by the end of this financial year in March, the losses would get reduced further. (INN)