Abee net increases tenfold, income from operations up 63%

Our Convergence Bureau
22 January 2003

The net profit for the corresponding period during the last fiscal stood at Rs 3.57 lakh. The gross profit during the same period this fiscal is Rs 174.79 lakh as compared to Rs 13.26 lakh for the nine-month period ended 31 December 2001.

The net sale and income from operations for the same period this financial year stands at Rs 417.68 lakh, while it stood at Rs 263.55 lakh for the nine-month period ended 31 December 2001. The net for Q3 FY-2002-03 is Rs 18.17 lakh while the figure for the corresponding period the previous fiscal was Rs 5.98 lakh. The gross profit during Q3 FY-2002-03 is Rs 148.81 lakh as compared to Rs 9.21 lakh in FY 2001-02.

Says Abee managing director BB Somani: “Through our newly launched product EasyFill, a concept that has the potential of saving nearly Rs 1700 crore for the country every year, Abee is aiming for a major expansion of its marketing operations across India. EasyFill has been very well received in the market. We are looking at a 400 per cent jump in the turnover in next one year and plan to double the number of distributors throughout India by the end of March 2004. Currently we are in the process of opening offices at key state capitals.“

With EasyFill, Abee is eyeing the Rs 400 crore dotmatrix and inkjet consumables market.

Established in 1991, Abee Info-Consumables is a leading IT consumables company in the dotmatrix printer (DMP) refill cartridges segment with the AbeeFill brand enjoying the majority market share. Abee, an ISO-9002 company, has a state-of-the-art manufacturing plant at Koregaon Bhima, near Pune.

With operations in the Middle East and Singapore, Abee has the distinction of being India's only multinational company (MNC) in the info-consumables sector. Abee closely associates itself with empowerment of customers and users through appropriate customer and user awareness, information and education.