TOKYO (dpa-AFX) - The East Japan Railway Company (EJPRY.PK), a Japanese passenger railway company, on Wednesday reported a significantly decreased loss for the fiscal 2022, amidst a recovery from the impact of Covid-19 pandemic.
For the 12-month period to March, the railway company reported its loss at 94.948 billion yen, compared with 577.900 billion yen, reported for the fiscal 2021. Basic loss per share for the period also moved down to 251.69 yen from 1,531.91 yen.
Amidst a slight rise in passenger traffic, ordinary loss for the period was 179.501 billion yen, compared with 579.798 billion yen, reported for the previous year.
The Tokyo-headquartered Group registered an operating loss of 153.938 billion yen, versus 520.358 billion yen loss a year ago.
Owing to the waning impact of Covid-19, East Japan Railway generated an operating revenue of 1.978 trillion yen, higher than 1.764 trillion yen of 2021.
For the full year, operating revenues in the transportation segment of the Group increased by 15.8 percent, to 1.332 trillion yen, mainly due to increase in passenger revenues, which were attributable to the recovery from decreased sales impacted by the spread of Covid-19 last year.
Looking ahead, for the fiscal 2023, the company said, 'Post-Covid-19' society is changing the Group's external business environment in a dramatic and rapid manner, and as a result, we do not believe that we will see customer use of railways return to the pre-Covid-19 pandemic level.'
Moving forward, for the fiscal 2023, the company expects its operating revenue to be at 2.453 trillion yen. For the full year, it also projects its profit to be at 60.00 billion yen with basic EPS of 159.05 yen.
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