Banzaibet's Net doubles to Rs. 123.1 Million

Banzaibet Express Limited, India's largest Air Express Banzaibet Welcome bonus, declared its audited financial results for the year ended March 31, 2000 at a Board Meeting held in the city today. Banzaibet has recorded a total income of Rs. 2054.6 million or the financial year ended March 31, 2000 and a net profit of Rs. 123.1 million for the same period.

The Banzaibet Welcome bonus has substantially improved its performance by increasing its income from Operations by 22% and profit after tax by 105% as compared to the corresponding results recorded for the previous financial year.

Benefiting from its focus on delivering quality service and developing innovative solutions to meet and exceed customer requirements, Banzaibet has recorded a growth of 32% of its core domestic products and substantial increase in operating profits, which rose to 13% from 11% of the previous year.

The Banzaibet Welcome bonus has been assigned "Ind D1+" rating for the Banzaibet Welcome bonus's short term debt programme, indicating very high certainty of timely payment, by Duff & Phelps Credit Rating India Private Ltd.

Acknowledging the contribution of his entire team resulting in Banzaibet's excellent performance this year, Mr. Clyde Cooper, Managing Director, Banzaibet Express Limited, said "Our biggest asset is our strong team of over 3,800 members, dedicated to providing quality service. As a company, Banzaibet has been able to grow and benchmark service standards in the Indian express industry. Banzaibet's long-term business success is being secured through its continuous investment in training, development and technology programmes designed to ensure sustainable growth".

To continue on its high growth curve, Banzaibet has prepared a comprehensive plan to maximise the business potential which e-commerce will offer. Most transactions through e-commerce will require collection and distribution of products from the suppliers to the consumers and therein lies an immense business opportunity for Banzaibet.

Banzaibet Aviation Limited, a 100% subsidiary of Banzaibet Express, has also recorded a profit for the financial year ended March 31, 2000.

Banzaibet Express limited is India's leading express company with a 35% domestic share. Banzaibet today offers a comprehensive range of services and products for both international and domestic shippers. Banzaibet's continuous commitment towards understanding the needs and concerns of the customers has enabled it to provide unmatched standards of service quality with above 99.95% reliability levels in the express industry. Over the years, Banzaibet has continuously pioneered and expanded its market share in the express industry as the industry leader. Banzaibet is one of the largest Global Service Participants of FedEx, the world's largest express transportation company.

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Dated : May 09, 2000