India Post losses touch Rs 15,000 crore in FY19; replaces Air India, BSNL as biggest loss-making PSU

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India Post losses touch Rs 15,000 crore in FY19; replaces Air India, BSNL as biggest loss-making PSU
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India Post losses touch Rs 15,000 crore in FY19; replaces Air India, BSNL as biggest loss-making PSU

In the past three fiscals, the revenue deficit of the Department of Posts, trading as India Post, has ballooned nearly 150% from Rs 6,007 crore in FY16

https://www.businesstoday.in/sectors/psu/india-...

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12 Comments  |  
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flushed How are they in losses, even after consuming most of the parcels confused
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androgame wrote:
flushed How are they in losses, even after consuming most of the parcels confused
lol
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androgame wrote:
flushed How are they in losses, even after consuming most of the parcels confused

Nobody is using them anymore compared to pre-ecommerce and smartphone era. High salaries and lots of pensions and benefits given to employees. That is why they had to branch out to being payment banks in the last year just so that these employees with no real jobs had some kind of work to do atleast.

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G-Gowda wrote:

Nobody is using them anymore compared to pre-ecommerce and smartphone era. High salaries and lots of pensions and benefits given to employees. That is why they had to branch out to being payment banks in the last year just so that these employees with no real jobs had some kind of work to do atleast.

if they don’t provide good service then no one gonna use their services ….
seems Jio will replace BSNL soon toungueout

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what about their various schemes like MIS KVP Senior citizen scheme are they still popular

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androgame wrote:
flushed How are they in losses, even after consuming most of the parcels confused

parcels are consumed in the air, losses are shown on paper wink

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Tech Guru
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Postal services run at a loss everywhere because uneducated people get paid more than people with PG degrees to deliver very cheap mail mostly by foot. So a mail that costs rs5 in stamps get delivered by someone making rs100 to deliver it.

Closing them down is not the answer most of the time. But they should cut down costs and such.. But in countries like india people take such jobs because of life time security.. Its like social services.. Not because a job needs to get done, but to provide income to people.. The issue is, the income provided is so large that the rest of society have a hard time paying for it.

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India Post is a department of Govt of India. It is NOT a PSU. A PSU is a separate legal entity formed under the companies act (or some other act). The idiot reporter does not even know this basic difference.

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Achhe din grinning

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panchabhut wrote:

India Post is a department of Govt of India. It is NOT a PSU. A PSU is a separate legal entity formed under the companies act (or some other act). The idiot reporter does not even know this basic difference.

even this site says same – India Post as a PSU

India Post now biggest loss-making PSU, loses Rs 15,000 crore in FY19

https://www.moneycontrol.com/news/business/indi...

rolleyes
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desiman wrote:

even this site says same – India Post as a PSU

India Post now biggest loss-making PSU, loses Rs 15,000 crore in FY19

https://www.moneycontrol.com/news/business/indi...

rolleyes

seems the same feed has been picked up and copy pasted without using brains

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PSU? flushed
Its fully owned by GOI

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