100% revenue growth clocked by Mrashtra DoP

Mumbai | Updated: Apr 30 2007, 05:30am hrs
The Maharashtra circle of the department of posts (DoP) has registered an impressive revenue growth of over 100% during 2006-07 fiscal from the sale of its premium products, along with innovative products and services recently introduced by the department. Against the budgeted target of Rs 400 crore, the Maharashtra circle has recorded a collection of Rs 416.66 crore.

The circle also succeeded in retaining its number 1 position, leaving behind 22 other circles across the country. As a result, it has set a budgetary target of Rs 550 crore during the 2007-08 fiscal.

A senior department official told FE that revenue from premium products has been growing steadily at an average of over 50% annually. The total revenue earned from premium products touched Rs 36.70 lakh, more than half the total revenue earned by the department, at Rs 129.62 lakh.

The product-wise performance of the Maharashtra circle is speed postRs 80.64 crore, business postRs 29.15 crore, express parcel postRs 11.35 crore, bill mail serviceRs 16.08 crore, Rs 14.92 croreretail post, media post - Rs 15.08 crore, e-postRs 4.90 lakh, direct post Rs 19.68 lakh, logistic postRs 16.87 lakh and passport service - Rs 19.57 lakh.

Interestingly, Mumbai has evolved as the largest revenue-generating centre. The region recorded net revenue collections of Rs 328.39 crore against its target of Rs 287 crore, which is almost 14.42% over the last fiscal.

Aurangabad was the second largest revenue generator followed by Pune, Nagpur and Goa. Aurangabad recorded a collection of Rs 28.80 crore, Pune Rs 30.93 crore, Nagpur Rs 18.61 crore and Goa Rs 9.93 crore. K Noorjehan, chief post master general, Maharashtra, said the department was exploring innovative ways of using the post office as a business opportunity. Our endeavour has always been to provide more and more financial services to customers at their doorstep.