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Blue Dart Profit 206.69 million up by 19.94%

Mumbai : July 31, 2008:

Blue Dart Express Limited, South Asia's premier No.1 express air and integrated transportation, distribution and logistics company, today declared its financial results for the quarter and half year ended June 30, 2008 at their Board Meeting held in the city today.

Profit after tax for the 2nd quarter ended June 30, 2008 was Rs 206.69 million, an increase of 19.94% over the corresponding period of the previous year. Income from operations for the 1st half ended June 30, 2008 was Rs 4,842.86 million, an increase of 31.19% over the corresponding period of the previous year.

Speaking on the occasion, Anil Khanna, Managing Director, Blue Dart Express Ltd said "Blue Dart in its 25th year of operations stands committed to its role of a trade facilitator. It has been our constant endeavour to provide the best of quality services to our customers, since our inception. We serve a loyal customer base and would like to take this opportunity to thank our customers for their continued support and all Blue Darters, who have believed in our vision and enabled us to deliver our promise. Our results are a confirmation of our customer's trust in us and of our commitment to serve their business."

With the reinforcement of its ground express product Dart Surfaceline last year, Blue Dart has now expanded its reach to over 20,955 locations across the country. Pioneers in Indias air express segment, Blue Dart today operates six air freighters, across 62 air routes with a payload capacity of 300 tonnes per night.

The strategy going ahead is to be a one-stop shop for all the distribution requirements our customers might have. We stand committed to bring people and markets together and participate in the countrys growth story, added Anil Khanna.

About Blue Dart:

Blue Dart, South Asia's premier No.1 express air and integrated transportation, distribution and logistics company, offers secure and reliable delivery of consignments to over 20,955 locations in India.

As part of the DHL Group (DHL Express, DHL Global Forwarding & DHL Exel Supply Chain), Blue Dart accesses the largest and most comprehensive express and logistics network worldwide, covering over 220 countries and offers an entire spectrum of distribution services including air express, freight forwarding supply chain solutions and customs clearance.

Blue Dart was selected as a Business Superbrand from over 1,699 brands and received the Readers Digests Most Trusted Brand Gold Award, both for three years in a row and has been listed twice in the Dun & Bradstreet top 500 companies in India. The Blue Dart team drives market 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. For further information, please visit our website at www.bluedart.com

 

BLUE DART EXPRESS LIMITED

Unaudited Financial Results for the Quarter and Half Year Ended June 30, 2008

(All figures are in Rs. Mn)

 

Sr. No. Particulars Quarter Ended 30-06-2008 (Unaudited) Quarter Ended 30-06-2007 (Unaudited) Half Year Ended 30-06-2008(Unaudited) Half Year Ended 30-06-2007(Unaudited) Year Ended 31-12-2007(Audited)
1. Net Sales/Income from operations 2,446 1,875 4,843 3,692 8,087
2. Other Income 10 5 19 11 31
3. Total Income 2,456 1,880 4,862 3,703 8,118
4. Expenditure          
a. Freight, Handling and Servicing Costs 1,594 1,166 3,051 2,308 5,019
b. Employee Cost 307 255 595 484 1,164
c. Depreciation 41 42 80 135 240
d. Other Expenses 200 139 365 261 625
e. Total 2,142 1,602 4,091 3,188 7,048
5. Interest (net) 0 1 0 3 4
6. Profit from Ordinary Activities Before Tax 314 277 771 512 1,066
7. Tax Expense 107 105 257 176 367
8. Profit After Tax 207 172 514 336 699
9. Paid-up Equity Share Capital (Face value Rs 10/- per share) 237 237 237 237 237
10. Reserves         2,935
11. Earnings Per Share(In Rupees)- Basic and Diluted 8.71 7.26 21.65 14.14 29.47
12. Public 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 30.46% for the quarter ended June 30, 2008 as compared to the corresponding quarter of the previous year.The softening trends noted by the management in the month of March 2008 are continuing.
  2. Pursuant to the retirement of one Boeing 737 freighter aircraft, D check on the said aircraft was fully depreciated in the first quarter of 2007. Accordingly, depreciation for the half year ended June 30, 2008 is lower vis-a'- vis corresponding previous year's period.
  3. 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) as notified under Section 211(3C) of the Companies Act, 1956.
  4. The Company did not have any investor complaint pending as on June 30, 2008. There were two investor complaints received and disposed off during the quarter ended June 30, 2008.
  5. The prior period's figures have been regrouped and reclassified wherever necessary to conform to current period's classification.
  6. 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, 2008. There are no qualifications in the limited review report issued for the above quarter.
  7. The above results were reviewed by the Audit Committee and were thereafter approved by the Board at its meeting held on July 31, 2008.

By Order of the Board
For Blue Dart Express Limited

sd/-

 

Anil Khanna
( Managing Director)

 

Date : July 31, 2008.
Place : Mumbai

For further information contact :

marketing@bluedart.com
Dated :July 31, 2008

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