Abee net increases 10-fold, income from
operations up 63%
Our Convergence
Bureau
22 January 2003
 Pune: Abee Info-Consumables Ltd
has announced a 10-fold increase in its net profit for the
nine-month period ended 31 December 2002 at Rs 36.23
lakh.
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 B B Somani: “Through our newly launched
product Easy Fill, 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.
 These
concepts, which ultimately benefit the end user by making
available high-quality products and services at affordable
prices, have scripted Abee’s success in becoming the market
leader, which saw the withdrawal of foreign MNCs in the DMP
cartridge market in the mid-1990s. Abee has recently launched
Abee easy-fill refill kits for inkjet printer
cartridges.
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