Blue Dart Profit up at 27.12 Crores
Mumbai : October 19, 2005:
Blue Dart Express Limited, South Asia's largest integrated air express, courier and logistics company, declared its financial results for the quarter ended September 30, 2005 at a Board Meeting held in the city today.
The company posted a Rs 27.12 Crore profit before tax for the quarter ended September 30, 2005, as compared to Rs. 15.99 Crores for the quarter ended September 30, 2004. Net profit for the quarter ended September 30, 2005 stood at Rs. 17.66 Crores up from Rs. 10.05 Crores over the corresponding quarter ended September 30, 2004. The results for the current quarter are after reversal of certain provisions.
Income from operations for the quarter ended September 30, 2005 was at Rs 137.09 Crores, an increase of 18.31% over the corresponding quarter of previous year.
Clyde Cooper, Managing Director, Blue Dart Express Limited said," With our focus on providing customers with quality service and an enhanced customer experience, we continued to upgrade and expand our infrastructure, by adding new facilities in Lucknow, Mumbai, Pune, Ahmedabad, Meerut and Jaipur, and moving to a new, state-of-the-art warehouse facility in Delhi. By mid 2006, we plan to augment our air capacity through Blue Dart Aviation Ltd. to meet the increasing market demand. We believe that continued investments into our ground and air infrastructure is vital to support our customers' business and the growth in demand indicated in our sphere of operations".
"We faced some challenging situations the last quarter, owing to the unprecedented rains and floods that lashed Mumbai, Pune, Ahmedabad and many parts of the western region. However, our well co-ordinated teams managed to recoup within the shortest span of time possible to restore normalcy to operations, as it is in these difficult times that efficient and reliable logistics are crucial to support and sustain business. The spiralling costs of aviation turbine fuel (ATF) are a continuing challenge as they impact our cost inputs, though we have a fuel surcharge mechanism in place to neutralise these increases in costs."
Blue Dart, South Asia's premier courier and integrated air express package distribution company, offers secure and reliable delivery of consignments to over 13,880 locations in India and 200 countries worldwide. Blue Dart was selected a Business Superbrand from over 854 brands across 82 product categories in India. The Blue Dart team drives marketplace leadership through its motivated people force, dedicated air capacity, cutting-edge technology, innovation and value-added services, to deliver unmatched standards of service quality to its customers.
BLUE DART EXPRESS LIMITED
Audited Financial Results for Six Months ended September 30, 2005(All figures are in Rs lacs)
|Sr.No.||Particulars||Quarter Ended 30-09-2005 (Unaudited)||Quarter Ended 30-09-2004(Unaudited)||Six Months Ended 30-09-2005(Audited)||Six Months Ended 30-09-2004(Audited)||Year Ended 31-03-2005(Audited)|
|1.||Net Sales/Income from operations||13,709||11,587||26,645||21,566||45,832|
|2.||Other Operating Income||685||18||710||26||379|
|5.||Freight, Handling and Servicing Costs||8,198||6,924||15,998||12,890||27,005|
|10.||Profit Before Tax||2,712||1,599||4,410||2,922||6,013|
|11.||Provision for Tax (including Fringe Benefit Tax )||946||594||1,604||1,083||2,109|
|12.||Profit After Tax||1,766||1,005||2,806||1,839||3,904|
|13.||Paid-up Equity Share Capital (Face value Rs 10/- per share)||2,373||2,373||2,373||2,373||2,373|
|15.||E P S (In Rupees)||7.44||4.24||11.83||7.75||16.45|
|16.||Aggregate of Non-promoter shareholding:||-||-||-||-||-|
|-Number of Shares||4,500,047||11,576,382||4,500,047||11,576,382||4,500,047|
|-Percentage of Shareholding||18.97||48.79||18.97||48.79||18.97|
- The income from operations has recorded an increase of 18.31 % in the quarter ended September 30, 2005 as compared to the corresponding period of the previous year and by 23.54 % in the six months ended September 30, 2005 over the corresponding six months ended September 30, 2004.
- The sale for the quarter ended September 30, 2005 was adversely impacted by approximately Rs.300 Lacs on account of the Mumbai floods on July 26, 2005 and its aftermath,including the infrastructure breakdown experienced by the city, disrupting and negatively affecting general economic activity.
- Other income includes the reversal of provision of Rs. 680 lacs made earlier for one-time retention compensation to the Managing Director, on account of rejection of application by the Central Government.
- On March 11, 2005 the Company disinvested 60% of its holding in Blue Dart Aviation Ltd. Accordingly, it ceased to be a subsidiary of the Company.
- The Company is primarily engaged in a single segment business of integrated transportation and distribution of shipments and is managed as one entity for its various service offerings and is governed by a similar set of risks and returns. The said treatment is in accordance with the guiding principles enunciated in the Accounting Standard on Segment Reporting (AS-17 )issued by the Institute of Chartered Accountants of India.
- The Company did not have any investor complaints pending as on July 1, 2005 and as on September 30, 2005. There were four investors' complaints received and disposed off during the quarter ended September 30, 2005.
- The Company has changed its financial year to calendar year basis. Accordingly, the current financial year of the Company would be for a period of nine months ending on December 31, 2005.
- The Statutory Auditors had performed limited review for the quarter ended June 30, 2005 and have performed the audit for the six months ended September 30, 2005. There have been no qualifications in the reports issued for the above period.
- The prior period's figures have been regrouped and reclassified wherever necessary to conform to current period's classification.
- The above results were reviewed by the Audit Committee and were thereafter approved by the Board at its meeting held on October 19, 2005.
By Order of the Board
For Blue Dart Express Limited
Date : October 19, 2005
Place : Mumbai
For further information contact :
Date : October 19, 2005