The metro rail systems are nothing but a high-capacity public transportation network that is used by the urban population for rapid and robust transportation throughout the city. They usually run on separate dedicated tracks which go on both underground and elevated based on the requirement. They help lot in easing congestion and pollution caused by private vehicles. Comparative study of the financial efficiency of the major metro rail systems in India i.e. DMRC (Delhi Metro Rail Corporation), BMRCL (Bengaluru Metro Rail Corporation Limited), CMRL (Chennai Metro Rail Limited), MMRCL (Mumbai Metro Rail Corporation Limited) by using the secondary data gathered from their respective annual reports for the period of five years from financial year 2019-20 to 2023-24. Financial efficiency is being evaluated by key ratios such as operating ratio, net profit ratio, ROCE, debt equity ratio, cost recovery ratio, farebox recovery ratio, EBIT margin, asset turnover ratio and current ratio. The results shows a sharp deterioration in financial performance during the financial year 2020-21 across all the operating metros, followed by slow recovery in the following subsequent financial years, while BMRCL shows significant improvement in cost recovery and farebox recovery after 2021-22,CMRL shows significant improvement toward break even point and better liquidity by 2023-24, MMRCL shows extreme and non-comparable value due to its early stages and under construction phases. This study highlights the need for stronger non fare revenue generation, cost control and prudent debt management to improve long term financial sustainability of the metro systems in India.