Blue Dart Express sees 3-fold jump in net profit to Rs.41 crore for Sept quarter
News Clip: Outlook India
29th October, 2020
Logistics major Blue Dart Express on Thursday reported a three-fold jump in its profit to Rs. 41.39 crore for the quarter ended September 30.
The company had posted a standalone net profit of Rs. 13.99 crore in the July-September quarter of the previous financial year, according to a company statement.
Revenue from operations, however, rose eight per cent to Rs. 864,42 crore, compared with Rs. 800.07 crore clocked during in the year-ago period.
"The COVID-19 pandemic posed a challenging time for all. Blue Dart not only weathered these challenges successfully but also continued to ensure unmatched service delivery to its customers," the company said.
The firm added that it paid Rs. 34.2 crore as a one-time ex-gratia to all employees, excluding senior management, as part of the company's ''People First'' policy.
Blue Dart Managing Director Balfour Manuel said, "Macroeconomic indicators as well as the opening up of the economy signal a greener future for the country. We see our customers'' businesses coming back to track with an exciting festive season around the corner, for which we are fully prepared."
He added that as pharmaceutical companies and the government work in tandem to roll out a COVID-19 vaccine, Blue Dart is gearing up to provide logistics support when a prospective vaccine candidate does arrive.
He added, "Automation and technology will continue to be the pivot for the business and Blue Dart will continue investing in these capabilities. Our investments into the brand, people, digitization and infrastructure will take a new trajectory, as we build our brand for the future."