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Blue Dart sales up at Rs 2,628 Mn up by 26.79%

- Blue Dart's Q3 Sales at Rs 2,628 Mn

Mumbai : October 21, 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 nine months ended September, 2008 at its Board Meeting held in the city today.

Income from operations for the quarter ended September 30, 2008 was Rs 2,628.42 Mn, as compared to Rs. 2,073.00 Mn for the quarter ended September, 2007. Profit after tax for the quarter ended September 30, 2008 was Rs 135.84 Mn as compared to Rs 174.32 Mn in the corresponding quarter ended September 30, 2007.

Speaking on the occasion Anil Khanna, Managing Director, Blue Dart Express Ltd. said "Our results are a validation of our customer's faith in us and of our commitment to serve their business. We are proud to be positioned as the only service provider with a distinctive capability to offer the entire gamut of express distribution solutions. As we move forward, we are committed to providing our customers superior service experience and meet and exceed their express distribution needs.

He further added "Blue Dart is in its 25th year of its operations and it has been our constant endeavour to provide the best quality services to our customers. Since our inception, we have used advanced technology to provide the Indian customer with a competitive edge and an enhanced customer experience."

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 21,044 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 Digest's 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. Blue Dart has been awarded the NDTV Business Leadership Award 2008 and the Asia Brand Congress Brand Leadership Award 2008. It has also been listed as one of the Forbes 'Best under Billion' companies.

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 Nine Months ended September 30, 2008

(All figures are in Rs. Mn)

 

Sr. No. Particulars Quarter Ended 30-09-2008 (Unaudited) Quarter Ended 30-09-2007 (Unaudited) Nine Months Ended 30-09-2008(Unaudited) Nine Months Ended 30-09-2007(Unaudited) Year Ended 31-12-2007(Audited)
1.a Net Sales/Income from operations 26,284 20,730 74,713 57,644 80,872
b. Other Operating Income 295 55 301 55 55
c. Total 26,579 20,785 75,014 57,699 80,927
2. Expenditure          
a. Freight, Handling and Servicing Costs 17,809 12,770 48,321 35,849 50,194
b. Employee Cost 4,281 3,292 10,233 8,132 11,636
c. Depreciation 421 435 1,218 1,783 2,403
d. Other Expenditure 2,097 1,667 5,756 4,282 6,253
e. Total 24,608 18,164 65,528 50,046 70,486
3. Profit from Operations before Other Income & Interest 1,971 2,621 9,486 7,653 10,441
4. Other Income 55 48 240 161 256
5. Tax Expense 107 105 257 176 367
6. Interest (net) -59 9 -64 37 40
7. Profit from Ordinary Activities Before Tax 2,085 2,660 9,790 7,777 10,657
8. Tax Expense 727 917 3,295 2,678 3,664
9. Net Profit for the period 1,358 1,743 6,495 5,099 6,993
10. Paid-up Equity Share Capital (Face value Rs 10/- per share) 2,373 2,373 2,373 2,373 2,373
11. Reserves         29,354
12. Earnings Per Share (In Rupees)- Basic and Diluted 5.72 7.35 27.37 21.49 29.47
13. 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. The income from operations has recorded an increase of 26.79% for the quarter ended September 30, 2008 as compared to the corresponding quarter of the previous year. The softening trends that commenced during March 2008 continued during the quarter. With the Company having essentially a 'fixed cost' based business model, the deceleration in volume growths is having an adverse impact on margins.
  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 Nine months ended September 30, 2008 is lower vis-a'- vis corresponding previous year's period.
  3. During the quarter ended September 30, 2008 the Company acquired 21,60,000 equity shares of Blue Dart Aviation Limited and thereby increased its holding from 40 % to 49%.
  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) as notified under Section 211(3C) of the Companies Act, 1956.
  5. The Company did not have any investor complaint pending as on September 30, 2008. There were two investors' complaints received and disposed off during the quarter ended September 30, 2008.
  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 September 30, 2008. 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 October 21, 2008.

By Order of the Board
For Blue Dart Express Limited

sd/-

 

Anil Khanna
( Managing Director)

 

Date : October 21, 2008
Place : Mumbai

For further information contact :

marketing@bluedart.com
Dated :October 21, 2008

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