India Post Q2 revenue rises 25% to ₹4,202 crore, breaches ₹4,000 crore mark for 2nd straight quarter

India Post's revenue grew 25% year-on-year to ₹4,202 crore in the July-September quarter, marking the second consecutive quarter in which the postal department crossed the ₹4,000-crore milestone, Communications Minister Jyotiraditya Scindia said on Thursday.

The department's revenue for the first half of the current fiscal rose nearly 24% to ₹8,213 crore from around ₹6,500 crore in the corresponding period last year.

The revenue in the second quarter was nearly 5% higher than the preceding quarter, Scindia said.

"This is the first time in the history of India Post that we have breached the ₹4,000 crore mark for two successive quarters," the minister said.

The growth was led by the parcel business, which recorded a 71% increase, followed by premium life insurance products Postal Life Insurance (PLI) and Rural Postal Life Insurance (RPLI), which grew 44%, and interest revenue and government business (IR & GB), which rose 38%, according to Scindia.

In a post on X, the minister said the department had sustained its growth momentum after a strong first quarter.

Scindia said the department's expenditure coverage ratio (ECR), excluding pension costs, had improved to 62% in the second quarter from 54% in the year-ago period.

The minister said with growth in revenue, the cost efficiency of the postal department has also improved. "Our measure of expenditure coverage ratio (ECR) has gone up to 62 per cent, excluding pension. We are keeping pension out as a cost issue compared to it (ECR) being at 54 per cent last year for Q2. So, we have improved our expenditure coverage ratio by almost 8 per cent this year," he said.

The minister chaired a quarterly business review meeting with all 23 postal circles to assess their performance. Of these, 19 circles achieved more than 80% of their second-quarter targets, he said.

Bihar, West Bengal and the North East circles performed across the board and exceeded expectations, Scindia said.