While mail and financial service revenue grew steadily in 2019, India Post saw a sharp drop in express delivery volumes, resulting in total revenue growth of just 0.6%.
Speed Post express volumes recovered strongly through the first three quarters of FY 2020, although volumes for the period were still only half that achieved in 2019. Driven by COVID-19 lockdown measures and business closures, India Post anticipates a significant drop in revenue for 2020, driven by declines in mail and financial services. Meanwhile, the post continues to see strong growth in demand for its recently-launched payments bank. For more details download the latest IPC Carrier Intelligence Report for India Post.
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