Blue Dart Record's Substantial Increase in Turnover

- Q3 Sales of Rs. 5384 Lacs, an increase of 25% -
- Q3 Profits of Rs.452 Lacs, an increase of 125% -

Blue Dart Express Limited, India's largest express company has recorded a total sales/ income of Rs.5384 Lacs for the third quarter of the current financial year ended December 31, 1999. The Profit before tax recorded for the same period is Rs.452 Lacs.

The Company has improved its performance by increasing the turnover by 25% and profit before tax by 125%, as compared to the results recorded for the corresponding quarter of the last financial year. Blue Dart currently has a share of 36% of the domestic express market and its core products continue to grow at 31%.

The Company's cumulative profit before tax for the nine month period ended December 31, 1999 stands at Rs.955 Lacs, an increase of 95%, vis a vis Rs.489 Lacs of the corresponding previous period of the last financial year.

Commenting on Blue Dart's performance for the third quarter, Mr. Clyde Cooper, Managing Director, Blue Dart Express Limited said that, "The Company has strengthened its dominance in the Domestic Market and has started to grow the international products business quarter over quarter. Blue Dart has been able to grow and create benchmark service standards in the express industry due to our consistent focus on high quality, professional service and leveraging sophisticated technology, to meet and exceed customer expectations."

The substantial rise in turnover and profits, despite absence of lease income of Rs.691 Lacs and absorption of additional cost of interest and depreciation since commissioning of operations of its Superhub at Sahar, indicate a strong growth in operating income due to rapid growth in sales.

To continue on its high growth curve, Blue Dart has prepared a comprehensive plan to maximise the business potential which e-commerce will offer. Most transactions through e-commerce will require logistics support in distribution of products from the suppliers to the consumers, and therein lies immense business potential for Blue Dart.

Blue Dart Aviation Limited, the Company's wholly owned subsidiary, has continued to record a profit for the third quarter of this year.

Blue Dart Express Limited is India's largest express company with a 36% domestic market share. Blue Dart today offers a comprehensive range of services and products for both international and domestic shippers. Blue Dart's continuous commitment towards understanding the needs and concerns of the customer has enabled it to provide unmatched standards of service quality with above 99.93% reliability levels in the express industry. Over the years, Blue Dart has continuously pioneered and expanded its market share in the express industry as the industry leader. Blue Dart is one of the largest Global Service Participants of FedEx, the world's largest express transportation company.

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Dated : January 25,2000

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