KTCL’s finances reflect a bumpy ride

PANAJI
Kadamba Transport Corporation Ltd (KTCL) has posted erratic financial results over the past five years while continuing to absorb heavy losses from bus breakdowns and accidents.

Figures placed before the Legislative Assembly by Transport Minister Mauvin Godinho show accident-related losses running into crores of rupees, including a single crash in October 2022 that alone cost more than Rs 52 lakh. KTCL has not repaired that bus and it has now been proposed for scrapping.

The corporation’s profit-and-loss statements reflect a fluctuating trend with losses of Rs 766.86 lakh in 2020–21, Rs 83.21 lakh in 2021–22 and Rs 265.91 lakh in 2023–24, offset by profits of Rs 589.02 lakh in 2022–23 and Rs 421.76 lakh in 2024–25.

Even as it battled financial instability, KTCL expanded its fleet by adding 48 electric buses – five of 12 metres, five of 7 metres and 38 of 9 metres – under Smart City and Liberation Year funding in 2023 and 2024. All these vehicles are operational in Panaji. The corporation has also taken delivery of 30 Eicher diesel buses in 2024–25 and 50 new Tata buses in 2024–26, according to the reply to an unstarred question by Leader of Opposition Yuri Alemao.

KTCL also faces a growing replacement backlog, with 23 buses reaching 15 years of service by December 2025, 19 more in 2026 and another 19 in 2027. The corporation has confirmed plans to retire and replace them.

Accident-linked losses have remained a constant strain, starting with minor repairs of Rs 12,000 in early 2021 and rising sharply through 2022 and 2023, when repeated high-value incidents were recorded. Losses continued in 2024 and 2025, with several months showing repair costs of over Rs 1 lakh and peaking at Rs 3.93 lakh in December 2025.

The Minister said electric buses are presently operating on 151 routes across Goa. KTCL is preparing to induct more e-buses, including 100 units under a Transvolt Mobility tender and another 120 proposed under the PM-eBus Sewa scheme.