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Blue Dart Sales at Rs 9,052 Million

Mumbai : January 28, 2010

Blue Dart Express Limited, South Asia's number one express air and integrated transportation, distribution and logistics Company, today announced its annual result for the year ended December 31, 2009 at its board meeting held in Mumbai.

The Company posted Rs 607 million profit after tax for the year ended December 31, 2009. Income from Operations for the quarter ended December 31, 2009 was Rs 2,535 million.

Speaking on the occasion Anil Khanna, Managing Director, Blue Dart Express Ltd. said, "We are a customer-led company, and we continue to be driven by their needs. We are proud to be positioned as the only service provider with a distinctive capability to offer the entire gamut of express distribution solutions. Our expertise in air is well supplemented by our ground capabilities. Going forward our focus will be to maintain and consolidate our leadership position in the air express products while strengthening our ground express offerings further. We are committed to providing our customers with superior service experience while meeting and exceeding their express distribution needs."

"With signs of a recovery in many industry verticals, the express industry is all set for new growth and expansion. Blue Dart is completely aligned to leverage these growth opportunities. In 2009, we have launched many new products and services that have received a tremendous response from our customers. Our plans are underway to launch more of such customized products catering to specific customer requirements." added Anil Khanna.

During the year 2009, Blue Dart handled 77.98 million shipments weighing 267,533 tonnes, servicing over 21,479 locations across India.

About Blue Dart:

Blue Dart, South Asia's premier number one express air and integrated transportation, distribution and Logistics Company, offers secure and reliable delivery of consignments to over 21,479 locations in India.

As part of the DHL Group (DHL Express, DHL Global Forwarding & DHL 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 received the Business Superbrand status 5 times in a row and the Reader's Digest Most Trusted Brand Gold Award for 4 consecutive years. It has been listed as one of the Forbes 'Best under a Billion' companies in Asia. Blue Dart received the Amity HR Excellence Awards 3 times consecutively and was listed 2 times in the Dun & Bradstreet top 500 companies of India. Blue Dart has been conferred the Asia Brand Congress - Brand Leadership Award in 2008 and the World Brand Congress - Brand Leadership Award in 2009 and acknowledged as the Best Service Provider of the Year 2009 at the ELSC Awards. The Blue Dart team drives market leadership through its motivated people force, dedicated air and ground capacity, cutting-edge technology, wide range of innovative, vertical specific products and value-added services to deliver unmatched standards of service quality to its customers. Blue Dart's market leadership is further validated by numerous awards and recognitions from customers for exhibiting reliability, superior brand experience and sustainability. Blue Dart accepts its social responsibility by supporting climate protection, disaster management and education.

BLUE DART EXPRESS LIMITED

Audited Financial Results for the Year Ended December 31, 2009

(All figures are in Rs.Lacs)

Sr.No. Particulars BDEL Quarter Ended 31-12-2009 (Unaudited) BDEL Quarter Ended 31-12-2008 (Unaudited) BDEL Year Ended 31-12-2009 (Audited) BDEL Year Ended 31-12-2008 (Audited) Consolidated Year Ended 31-12-2009 (Audited) Consolidated Year Ended 31-12-2008(Audited)
1.a. Net Sales / Income from operations 25,345 22,734 90,523 97,447 90,754 97,666
b. Other Operating Income 7 194 217 495 217 495
c. Total 25,352 22,928 90,740 97,942 90,971 98,161
2. Expenditure            
a. (a)Freight,handling and servicing costs(net) 16,232 15,270 58,563 63,592 58,594 63,597
b. Employee cost 3,224 3,029 13,476 13,265 13,593 13,380
c. Depreciation 437 439 1,776 1,657 1,794 1,675
d. Other expenditure 2,297 2,324 8,111 8,078 8,135 8,112
e. Total 22,190 21,062 81,926 86,592 82,116 86,764
3. Profit from operations before other income,finance costs and exceptional items 3,162 1,866 8,814 11,350 8,855 11,397
4. Other income 177 270 543 576 555 594
5. Profit before finance costs and exceptional items 3,339 2,136 9,357 11,926 9,410 11,991
6. Interest 53 50 55 51 55 51
7. Profit after Interest but before Exceptional Items 3,286 2,086 9,302 11,875 9,355 11,940
8. Exceptional items - - - - - -
9. Profit Before Tax 3,286 2,086 9,302 11,875 9,355 11,940
10. Tax expense 1,174 845 3,231 4,140 3,253 4,163
11. Net Profit from ordinary activities after tax 2,112 1,241 6,071 7,735 6,102 7,777
12. Extraordinary items (net of tax expense) - - - - - -
13. Share of Associate's Profit         17 19
14. Net Profit for the period 2,112 1,241 6,071 7,735 6,119 7,796
15. Paid-up Equity Share Capital (Face value Rs 10/- per share) 2,373 2,373 2,373 2,373 2,373 2,373
16. Reserves excluding Revaluation Reserve     42,605 36,811 42,936 37,095
17. Earnings Per Share(In Rupees)- Basic and Diluted 8.90 5.23 25.58 32.60 25.79 32.86
18 Public shareholding:            
  -Number of Shares 4,500,047 4,500,047 4,500,047 4,500,047    
  -Percentage of Shareholding 18.97 18.97 18.97 18.97    
19. Promoters and promoter group shareholding            
a. Pledged/Encumbered            
  -Number of shares - - - -    
  -Percentage of Shares(as a % of the total shareholding of promoter and promoter group) - - - -    
  -Percentage of Shares(as a % of the total share capital of the company) - - - -    
b. Non-Encumbered            
  -Number of shares 19,227,887 19,227,887 19,227,887 19,227,887    
  -Percentage of Shares(as a % of the total shareholding of promoter and promoter group) 100.00 100.00 100.00 100.00    
  -Percentage of Shares(as a % of the total share capital of the company) 81.03 81.03 81.03 81.03    

Notes :

  1. The decrease of 7.10% in Income from Operations for the year ended December 31, 2009 vis-à-vis the corresponding year ended December 31,2008 is primarily on account of lower fuel surcharge as per the Company's fuel surcharge mechanism which is linked to the WTI crude oil price index with marginal increase in freight.
  2. The Board of Directors have recommended a dividend of 10% for the year ended December 31, 2009.
  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 Consolidated Financial results represent those of Blue Dart Express Limited and its Subsidiary Concorde Air Logistics Limited. The Company has consolidated its results based on the Accounting Standard on Consolidation of Financial Statements (AS-21) as notified under section 211(3C) of the Companies Act, 1956. The 49% holding in Blue Dart Aviation Limited has been consolidated in accordance with the Accounting Standard on Accounting for Investments in Associates in Consolidated Financial Statements (AS-23) as notified under section 211(3C) of the Companies Act, 1956.
  5. The Company did not have any investor complaint pending as on December 31, 2009. There were two investor's complaint received and disposed off during the quarter ended December 31, 2009.
  6. The prior period's figures have been regrouped and reclassified wherever necessary to conform to current period's classification.
  7. The above results were reviewed by the Audit Committee and were thereafter approved by the Board at its meeting held on January 28, 2010. There are no qualifications in the Auditors' Report issued for the financial year ended December 31, 2009.

By Order of the Board
For Blue Dart Express Limited

 

sd/-

Anil Khanna
(Managing Director)

 

Date : January 28, 2010
Place : Mumbai

For further information contact :

marketing@bluedart.com
Date : January 28, 2010

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