Blue Dart sales Rs 2,936.86 Million up by 24.65%

Mumbai : October 26, 2010

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, 2010 at its Board Meeting held in the city today.

Income from operations for the quarter ended September 30, 2010 was Rs 2,936.86 Mn, as compared to Rs 2,356.13 Mn for the quarter ended September, 2009. Profit after tax for the quarter ended September 30, 2010 was Rs 209.85 Mn as compared to Rs 164.93 Mn in the corresponding quarter ended September 30, 2009.

Speaking on the occasion Anil Khanna, Managing Director, Blue Dart Express Ltd. said, "As always, our teams have worked very hard and I would like to thank our passionate and dedicated employees, our loyal customers and the governmental agencies and the industry bodies for their unstinted support and backing. Blue Dart is committed to provide customers world-class and benchmarked services, we are steadfast in our efforts to remain an employer of choice and be a trend-setter in the industry"

He further added "Blue Dart is in its 27th 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, innovative products and services, one-stop-shop capabilities to provide the Indian customer with a competitive edge and an enhanced customer experience."

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 25,498 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 'Superbrand' status 5 times in a row and the Reader's Digest Most Trusted Brand Gold Award, 5 years in a row. 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, the World Brand Congress - Brand Leadership Award and the Best Service Provider of the Year in 2009. In 2010, amongst a host of awards, Blue Dart was conferred with the Organization with Innovative HR Practices 2009-10 and Best Employer Award on Employee Retention at the Global HR Excellence Awards, WHRDC Meet 2010. Recently, Blue Dart was honoured with the 22nd CFBP Jamnalal Bajaj Fair Business Practices Award - 2010 in the category of Service Enterprises (Medium). Blue Dart has also been recognized as one of India's Best Companies to Work For 2010 in a study by Economic Times and Great Place to Workᆴ Institute, India. Blue Dart also received the Brand Leadership Award at CMO Asia Awards 2010, Award for Best HR Strategy in Line with Business and Award for Innovative Retention Strategy at the Asia'a Best Employer Awards 2010, Singapore.

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. Apart from various other initiatives in Sustainability, in an effort to reducing its carbon footprint, Blue Dart registered an improvement on CO2 efficiency by 10% year-on-year.


Unaudited Financial Results for the Quarter and Nine Months Ended September 30,2010

(All figures are in Rs.Lacs)

Sr.No. Particulars Quarter Ended 30-09-2010 (Unaudited) Quarter Ended 30-09-2009 (Unaudited) Nine Months Ended 30-09-2010 (Unaudited) Nine Months Ended 30-09-2009 (Unaudited) YearEnded 31-12-2009 (Audited)
1.a. Net Sales / Income from Operations 29,369 23,561 82,853 65,178 90,523
b. Other Operating Income 54 42 71 210 217
c. Total 29,423 23,603 82,924 65,388 90,740
2. Expenditure          
a. Freight, Handling and Servicing Costs (Net) 19,392 14,690 53,489 42,331 58,563
b. Employee Costs 4,189 4,064 10,976 10,252 13,476
c. Depreciation 468 437 1,399 1,339 1,776
d. Other Expenditure 2,375 2,026 6,921 5,817 8,111
e. Total 26,424 21,217 72,785 59,739 81,926
3. Profit From Operations before Other Income, Interest & Exceptional Items 2,999 2,386 10,139 5,649 8,814
4. Other Income 109 112 279 369 543
5. Profit before Interest & Exceptional Items 3,108 2,498 10,418 6,018 9,357
6. Interest 1 1 1 1 55
7. Profit after Interest but before Exceptional Items 3,107 2,497 10,417 6,017 9,302
8. Exceptional Items - - - - -
9. Profit Before Tax 3,107 2,497 10,417 6,017 9,302
10. Tax Expense 1,009 848 3,379 2,059 3,231
11. Net Profit from Ordinary Activities after Tax 2,098 1,649 7,038 3,958 6,071
12. Extraordinary Items (net of tax) - - - - -
13. Net Profit for the period 2,098 1,649 7,038 3,958 6,071
14. Paid-up Equity Share Capital ( Face value Rs 10/- per share) 2,373 2,373 2,373 2,373 2,373
15. Reserves excluding Revaluation Reserve as per Balance Sheet of previous Accounting year         42,605
16. Earnings Per Share(In Rupees)- Basic and Diluted 8.84 6.95 29.66 16.68 25.58
17. 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
18. 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 capital of the company) - - - - -
b. Non-Encumbered          
  -Number of Shares 19,227,887 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) 100 100 100 100 100
  -Percentage of Shares (as a % of the total capital of the company) 81.03 81.03 81.03 81.03 81.03


Notes :

  1. The Income from operations (inclusive of fuel surcharge) has recorded an increase of 24.65% for the quarter ended September 30, 2010 as compared to the corresponding quarter of the previous year.
  2. The Company is primarily engaged in a single segment business of integrated air and ground transportation and distribution of time sensitive packages in India 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.
  3. The Company did not have any investor complaint pending as on September 30, 2010. There were three investor complaints received and disposed off during the quarter ended September 30, 2010.
  4. The prior period's figures have been regrouped and reclassified wherever necessary to conform to current period's classification.
  5. 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 and nine months ended September 30, 2010. There are no qualifications in the limited review report issued for the above period.
  6. The above results were reviewed by the Audit Committee and were thereafter approved by the Board at its meeting held on October 26, 2010.

By Order of the Board
For Blue Dart Express Limited

Anil Khanna
(Managing Director)

Date :October 26, 2010
Place : Mumbai

For further information contact :
Dated : October 26, 2010

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