Blue Dart posts INR 414 million profit in Q2 FY20
News Clip: Stat Times
30th October, 2020
South Asia's premier express air and integrated transportation & distribution company, Blue Dart declared its financial results on October 29 for the quarter July– September 2020, at the board meeting held in Mumbai. The company posted INR 414 million profit after tax (previous year INR 140 million) for the quarter ended September 30, 2020. Revenue from operations for the quarter ended September 30, 2020 stood at INR 8,644 million.
Balfour Manuel, managing director, Blue Dart said, “Macroeconomic indicators as well as the opening up of the economy signals a greener future for the nation. We see our customers’ businesses coming back on track with an exciting festive season around the corner for which we are fully prepared. We are cautiously optimistic for what the future holds for the economy as a second wave of pandemic is expected to hit the country in the winter season. We have also consolidated our position over this quarter for our key products. As pharmaceutical organizations and the Government of India 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. Blue Dart’s resilience, responsiveness, safe and reliable network continues to be the reason we remain the government’s as well as every citizen’s trusted express logistics provider. Our employees as well as our market-leading technology continue to remain our primary differentiators as a premium brand.”
Manuel added “Blue Dart continued to provide unrelenting support to customers across industry verticals through the pandemic. These efforts were richly appreciated by our customers at various forums. Blue Dart has navigated through the crisis well. Performance during the quarter has been supported by better revenue realization and cost efficiencies initiatives." He concluded, “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, digitisation & Infrastructure will take a new trajectory as we build our brand for the future”.