Blue Dart Sales Up by 19.34%

Mumbai : July 16, 2007:

Blue Dart Express Limited, South Asia's largest integrated air express courier and package distribution company, today declared its financial results for the second quarter and half year ended June 30, 2007 at their Board Meeting held in the city.

Income from operations for the 1st half ended June 30, 2007 was Rs 369.14 crores, an increase of 19.34% over the corresponding period of the previous year, and profit before tax for the same period was Rs 51.17 crores, up by 14.21% from Rs 44.80 crores in the corresponding period of the previous year.

Anil Khanna, Managing Director, Blue Dart Express Limited said, "We have always taken every possible step to ensure that our delivery promise continues to extend beyond just timeliness and encompasses the values that our brand stands for - service excellence, quality and reliability. We have and will continue to invest in an infrastructure that would support our country's growth. We have recently added a new air route, augmenting our capacity on the North-South corridor to meet the strong current and projected demands. Our air capacity has now expanded to a payload of 300 tonnes through 62 routes every night, confirming Blue Dart's position as the undisputed market leadership in the domestic express segment, and its unique capability to offer the entire spectrum of distribution solutions".

About Blue Dart:
Blue Dart, South Asia's premier courier, and integrated air express package Distribution Company, offers secure and reliable delivery of consignments to over 14,400 locations in India.

As part of the DHL Group, Blue Dart accesses the largest and most comprehensive express and logistics network worldwide, covering over 220 countries, and offering an entire spectrum of distribution services, including express, air freight, ocean freight, supply chain solutions, freight forwarding, customs clearance, project handling and charters, through the 3 Business Units in India - DHL Express, DHL Danzas Lemuir and Blue Dart.

Blue Dart was recently selected a Superbrand for the third time for 2006-07, from over 1,699 brands across 169 product categories, received the Readers Digest's Most Trusted Brand Gold Award, and is listed amongst the Dun & Bradstreet top 500 companies 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.


Unaudited Financial Results for the Quarter and Half Year ended June 30, 2007

(All figures are in Rs Mn.)

Sr. No. Particulars Quarter Ended 30-06-2007 (Unaudited) Quarter Ended 30-06-2006 (Unaudited) Half Year Ended 30-06-2007(Unaudited) Half Year Ended 30-06-2006(Unaudited) Year Ended Ended 31-12-2006(Audited)
1. Net Sales/Income from operations 1,875 1,574 3,692 3,093 6,680
2. Other Income 5 1 11 8 18
3. Total Income 1,880 1,575 3,703 3,101 6,698
4. Staff Cost 255 207 484 418 957
5. Freight, Handling and Servicing Costs 1,166 1,018 2,308 1,921 4,266
6. Other Expenses 139 109 261 209 460
7. Total Expenditure 1,560 1,334 3,053 2,548 5,683
8. Interest (net) 1 4 3 10 16
9. Depreciation 42 49 135 95 220
10. Profit Before Tax 277 188 512 448 779
11. Provision for Tax (including Fringe Benefits Tax ) 105 77 176 155 277
12. Profit After Tax 172 111 336 293 502
13. Paid-up Equity Share Capital (Face value Rs 10/- per share) 237 237 237 237 237
14. Reserves - - - - 2,265
15. E P S (In Rupees) 7.26 4.69 14.14 12.37 21.17
16. Aggregate of Non-promoter shareholding: - - - - -
-Number of Shares 4,500,047 4,500,047 4,500,047 4,500,047 4,500,047
-Percentage of Shareholding 18.97 18.97 18.97 18.97 18.97

Notes :

  1. Income from operations has recorded an increase of 19.15 % for the quarter ended June 30, 2007 as compared to the corresponding quarter of the previous year.
  2. Effective June 1, 2006 the Company inducted two Boeing 757 freighter aircraft and also connected Ahmedabad as its seventh aviation hub and made Hyderabad as an outbound gateway, which together resulted in increased Freight, Handling and Servicing costs over the corresponding quarter of the previous year.
  3. Pursuant to the retirement of one Boeing 737 freighter aircraft, D check on the said aircraft was fully depreciated in the first quarter of the current year. Accordingly, depreciation for the current quarter is lower vis-a`-vis corresponding quarter of the previous year,and on a cumulative basis for the current half year ended June 30, 2007, depreciation is higher vis-a`-vis corresponding half year of the previous year.
  4. 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.
  5. The Company did not have any investor complaint pending as on June 30, 2007. There was one investors' complaint received and disposed off during the quarter ended June 30,2007.
  6. The prior period's figures have been regrouped and reclassified wherever necessary to conform to current period's classification.
  7. In accordance with the requirements of Clause 41 of the Listing Agreement with the Stock Exchanges, the Statutory Auditors have performed a limited review of the Company's financial results for the quarter ended June 30, 2007.There are no qualifications in the limited review report issued for the above quarter.
  8. The above results were reviewed by the Audit Committee and were thereafter approved by the Board at its meeting held on July 16, 2007.

By Order of the Board
For Blue Dart Express Limited



Anil Khanna
(Managing Director)

Date : July 16, 2007
Place : Mumbai

For further information contact :
Dated :July 16, 2007

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