The recent earthquake, which shook the Kiwibank subsidiary of Canterbury in New Zealand, has heavily injured the New Zealand Post, a bank and postal service owned by the state.

The company has witnessed a heavy bombardment since then, piling up a revised manual of losses which read $29.1 million in total.

The net profit made by NZ post, after deduction of all taxes, was $41.7 million, against $73.6 million a year earlier.

Yesterday, the company released a report admitting an overall loss $35.6 million, as compared to a reasonable profit of $1.23m in June 2010. The loss, of course, incorporates the expenses forced by the earthquake on Kiwibank.

Earlier In May, Kiwibank was riding over the seven oceans. Though it revealed its expectations regarding a net profit of $60.8 million for 2011, no substantial evidence was proffered in support of the statements and expectations.

New Zealand's Postal service announced that the number of letter processed by the company has gradually declined since a year or so. At present, the postal facility is going through a 50 million reduction in the number of letters processed, and the organization is focused on chopping-down the expenditures by employing `self-service kiosks' at its counters throughout the country.

In addition, it is likely to use petrol stations, malls and other such locations of asocial attraction for enhancing its services.