India Post: Even with social obligation, it could be profitable
Most recently, it's taken four years just to commission a feasibility study for its biggest transformation yet, becoming a bank.
In the last 15 years, as electronic modes of communication have trampled on physical forms, the department has tried to change, only to give into its worst self, and continue down the road of irrelevance and mounting losses. In 2009-10, it lost Rs 6,641 crore, on revenues of Rs 6,266 crore. In other words, to earn one rupee in revenues, it spent Rs 2. In 1997-98, it gave itself a new, contemporary and meaningful identity: India Post.
Source : Economic Times
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