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Blue Dart Q2 Sales Rs 370.94 cr

- Profit up by 32.75%

-The Company posted Rs 34.01 cr. profit after tax

Mumbai : July 19, 2011

Blue Dart Express Ltd., South Asia's premier courier, and integrated express package Distribution Company, today declared its financial results for the second quarter (Q2) ended June 30, 2011, at its Board Meeting held in Mumbai.

The company posted Rs 34.01 cr. profit after tax for the quarter ended June 30, 2011. Income from operations (inclusive of fuel surcharge) for the quarter ended June 30, 2011 stood at Rs 370.94 cr., an increase of 33.80% over the corresponding quarter of the previous year.

Anil Khanna, Managing Director, Blue Dart Express Ltd. said, "Being a customer centric brand, Blue Dart has robust plans for India and will continue to focus on product innovation, reach expansion, transit time improvements, small town (Tier-II and III) activation and strengthening channels. We will continue to focus on delivering world-class service quality, experience and maintain our reliability quotient."

About Blue Dart:

Blue Dart Express Ltd., South Asia's premier courier, and integrated express package Distribution Company, offers secure and reliable delivery of consignments to over 27,005 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.

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. Some of these include SUPERBRAND and 'Reader's Digest Most Trusted Brand Gold Award' 6 years in a row, one of 'India's Best Companies to Work For' by The Great Place to Work´ż« Institute twice successively, Organization with Innovative HR Practices 2009-10 and Best Employer Award on Employee Retention at the Global HR Excellence Awards, BSE Best CSR Practice Award and 22nd CFBP Jamnalal Bajaj Fair Business Practices Award - 2010 in the category of Service Enterprises (Medium) to name a few.

Blue Dart accepts its social responsibility by supporting climate protection (Go Green), disaster management (Go Help) and education (Go Teach). 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.

BLUE DART EXPRESS LIMITED

Unaudited Financial Results for the Quarter and Half Year Ended June 30, 2011 Statement of Assets and Liabilities as per Clause 41 (V) (h) of the Listing Agreements at June 30,2011

(All figures are in Rs.Lacs)

Sr.No. Particulars QuarterEnded 30-06-2011 (Unaudited) QuarterEnded 30-06-2010 (Unaudited) Half YearEnded 30-06-2011 (Unaudited) Half YearEnded 30-06-2010 (Unaudited) YearEnded 31-12-2010 (Audited)   As at 30-06-2011 (Unaudited) As at 30-06-2010 (Unaudited) As at31-12-2010 (Audited)
1.a. Net Sales / Income from Operations 37,094 27,724 70,727 53,484 114,741 Shareholders' Funds:      
b. Other Operating Income 114 7 180 17 85 (a) Capital 2,376 2,376 2,376
c. Total 37,208 27,731 70,907 53,501 114,826 (b)Reserves and Surplus 58,776 47,544 51,765
2. Expenditure           Loan Funds - - -
a. Freight, Handling and Servicing Costs 24,273 17,667 46,302 34,097 74,836 Deferred Tax Liability (Net) 1,856 1,821 1,817
b. Employee Costs 4,994 3,639 8,760 6,787 14,889 Total 63,008 51,741 55,958
c. Depreciation 544 464 1,076 931 1,922 Fixed Assets 22,089 19,967 20,982
d. Other Expenditure 2,845 2,369 5,425 4,552 9,599 Loan to Associate 12,628 - 11,245
e. Total 32,656 24,139 61,563 46,367 101,246 Investments 7,452 8,129 9,598
3. Profit From Operations before Other Income, Interest & Exceptional Items 4,552 3,592 9,344 7,134 13,580 Current Assets,Loans And Advances      
4. Other Income 476 92 861 176 447 (a)Inventories 240 188 217
5. Profit before Interest & Exceptional Items 5,028 3,684 10,205 7,310 14,027 (b) Sundry Debtors 18,015 13,571 15,329
6. Interest         1 (c)Cash and Bank Balances 9,738 3,053 3,473
7. Profit after Interest but before Exceptional Items 5,028 3,684 10,205 7,310 14,026 (d) Other Current assets - - -
8. Exceptional Items - - - - - (e) Loans and Advances 8,190 17,863 8,398
9. Profit Before Tax 5,028 3,684 10,205 7,310 14,026 Less: Current Liabilities and Provisions      
10. Tax Expense 1,627 1,122 3,193 2,370 4,589 (a)Liabilities 14,350 10,361 12,145
11. Net Profit from Ordinary Activities after Tax 3,401 2,562 7,012 4,940 9,437 (b) Provisions 994 669 1,139
12. Extraordinary Items (net of tax) - - - - - Net Current Assets 20,839 23,645 14,133
13. Net Profit for the period 3,401 2,562 7,012 4,940 9,437 Total 63,008 51,741 55,958
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         51,765
16. Earnings Per Share(In Rupees)- Basic and Diluted 14.33 10.80 29.55 20.82 39.77
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 33.80% for the quarter ended June 30, 2011 as compared to the corresponding quarter of the previous year.
  2. Loan to Associate represents interest bearing loan granted to Blue Dart Aviation Limited to meet its funds requirement for infrastructure expansion of its dedicated air cargo services to Blue Dart Express Limited. Interest on said loan amounting to Rs 252.38 lacs for the quarter and Rs 478.06 lacs for the half year ended June 30, 2011 has been included in Other Income.
  3. 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.
  4. The Company did not have any investor complaint pending as on June 30, 2011. There were three investor complaints received and disposed off during the quarter ended June 30, 2011.
  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 and half year ended June 30, 2011 as well as of the Statement of Assets and Liabilities as at June 30,2011. There are no qualifications in the limited review report issued for the above period.
  7. The above results were reviewed by the Audit Committee and were thereafter approved by the Board at its meeting held on July 19, 2011.

By Order of the Board
For Blue Dart Express Limited

Sd/-
Anil Khanna
(Managing Director)

Date : July 19, 2011
Place : Mumbai

For further information contact :
marketing@bluedart.com
Dated : July 19, 2011

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