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Blue Dart Sales at Rs. 2,162.06 crores

- The Company posted Rs. 188.66 cr profit after tax

Mumbai : May 02, 2013

Blue Dart Express Limited, South Asia's number one express air and integrated transportation, distribution and logistics company, today declared its financial results for the fifteen months period ended March 31, 2013, at its Board Meeting held in Mumbai.

The Company has changed its Accounting year to commence from 1st April of every year and to end on 31st March of the following year, to proactively comply with the proposed Companies Bill 2012. Consequent to this, the current accounting period is for the fifteen months period from 1st January, 2012 to 31st March, 2013.

The company posted Rs. 188.66 crores profit after tax for the fifteen months period ended 31st March, 2013. Income from operations for the fifteen months period ended 31st March, 2013 stood at Rs. 2,162.06 million.

Anil Khanna, Managing Director, Blue Dart Express Limited said, "Inspite of the challenging macro-economic environment, we will continue to invest in our customers. Blue Dart continues to enjoy high Customer Satisfaction and Net Promoter Scores in the industry which is a validation of our service excellence and customer delight."

He further added, "Blue Dart stands for Quality, Consistency, Reliability, Passion and Commitment. I thank every Blue Darter, associates, our customers and stakeholders for their support and trust in our brand. We are delighted to serve in 'Blue Dart Country' with a business and human conscience to remain the customer's First Choice".

During the fifteen months period ended March 31, 2013, Blue Dart handled over 141.7 million domestic shipments, 1 million international shipments and over 594,900 tonnes of documents and parcels across the nation and 220 countries worldwide.

The Board of Directors has recommended a dividend of Rs. 71/- per share for the fifteen months period ended 31st March, 2013.

About Blue Dart:

Blue Dart Express Ltd., South Asia's premier express air and integrated transportation & distribution company, offers secure and reliable delivery of consignments to over 33,739 locations in India. As part of the DP 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 territories 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' 7 years in a row, one of 'India's Best Companies to Work For' by The Great Place to Workļ¾® Institute thrice successively, 'Outstanding Contribution to the Cause of Education' - Global HR Excellence Awards 2011-2012, 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 (GoGreen), disaster management (GoHelp) and education (GoTeach).

BLUE DART EXPRESS LIMITED

PART I
Results for the Fifteen Months Period Ended 31/03/2013 (Rs in Lacs)

Statement of Audited Financial

 

Standalone Statement of Assets and Liabilities as
at 31/03/2013
(Rs in Lacs)

 

    BLUE DART EXPRESS LIMITED BLUE DART EXPRESS LIMITED BLUE DART EXPRESS LIMITED BLUE DART EXPRESS LIMITED BLUE DART EXPRESS LIMITED CONSOLIDATED CONSOLIDATED        
  Particulars Quarter Ended 31/03/2013(Unaudited) Quarter Ended 31/12/2012(Unaudited) Quarter Ended 31/03/2012(Unaudited) Fifteen Months Period Ended 31/03/2013(Audited) Year Ended 31/12/2011(Audited) Fifteen Months Period Ended 31/03/2013(Audited) Year Ended 31/12/2011(Audited)   Particulars As at 31/03/2013(Audited) As at 31/12/2011(Audited)
1. Income from operations                 A. EQUITY AND LIABILITIES    
  (a)Net Sales / income from operations 44,543 45,835 41,091 216,206 148,960 216,726 149,227   1.Shareholders'funds    
  (b)Other operating income 56 103 44 445 311 445 311   (a)Share Capital 2,376 2,376
  Total income from operations(net) 44,599 45,938 41,135 216,651 149,271 217,171 149,538   (b)Reserves and surplus 62,593 63,437
2 Expenses                 Sub-total - Shareholder's funds 64,969 65,813
  (a)Freight,handling and servicing costs(net) 29,326 28,458 27,867 141,023 100,107 141,070 100,152   2. Non-current liabilities    
  (b)Employee benefits expense 5,985 6,296 5,338 29,828 19,078 30,019 19,230   (a)Deferred tax liabilities(net) 1,486 1,824
  (c)Depreciation and amortisaton expense 548 682 732 3,448 2,160 3,472 2,178   (b)Other long-term liabilities - -
  (d)Other expenses 3,746 4,819 3,465 19,170 12,153 19,199 12,171   (c)Long-term provision 1,235 849
  Total expenses 39,605 40,255 37,402 193,469 133,498 193,760 133,731   Sub-total - Non-current liabilities 2,721 2,673
3. Profit From operations before other income,finance costs and exceptional items 4,994 5,683 3,733 23,182 15,773 23,411 15,807   3. Current liabilities    
4. Other income 842 841 678 3,941 2,115 3,999 2,174   (a)Trade payables 7,288 5,291
5. Profit from ordinary activities before finance costs and exceptional items 5,836 6,524 4,411 27,123 17,888 27,410 17,981   (b)Other current liabilities 8,791 9,351
6. Finance costs       1   1     (c)Short term provisions 20,246 588
7. Profit from ordinary activities after finance costs but before exceptional items 5,836 6,524 4,411 27,122 17,888 27,409 17,981   Sub-total - Current liabilities 36,325 15,230
8. Exceptional items - - - - - - -   TOTAL-EQUITY AND LIABILITIES 104,015 83,716
9. Profit from ordinary activities before tax 5,836 6,524 4,411 27,122 17,888 27,409 17,981   B. ASSETS    
10. Tax expense 1,661 2,023 1,503 8,256 5,664 8,338 5,703   1. Non-current assets    
11. Net Profit from ordinary activities after tax 4,175 4,501 2,908 18,866 12,224 19,071 12,278   (a)Fixed assets 23,246 23,560
12. Extraordinary items (net of tax expense) - - - - - - -   (b)Non-current investments 1,977 1,977
13. Share of Associate's Profit           257 141   (c)Long-term loans and advances 26,782 27,298
14. Net Profit for the period 4,175 4,501 2,908 18,866 12,224 19,328 12,419   (d)Other non-current assets 26 15
15. Paid-up equity share capital( Face value Rs 10/- per share) 2,373 2,373 2,373 2,373 2,373 2,373 2,373   Sub-total - Non current assets 52,031 52,850
16. Reserves excluding Revaluation Reserve as per Balance Sheet of previous accounting year       62,593 63,437 63,615 63,997   2. Current assets    
17.i Earnings per share(before extraordinary items)(of Rs.10/- each)                 (a)Current investments - 5,170
  (a)Basic 17.60 18.96 12.26 79.51 51.52 81.46 52.34   (b)Inventories 235 262
  (b)Diluted 17.60 18.96 12.26 79.51 51.52 81.46 52.34   (c)Trade receivables 22,721 18,898
17ii. Earnings per share(after extraordinary items)(of Rs.10/- each)                 (d)Cash and Bank balances 23,649 3,756
  (a)Basic 17.60 18.96 12.26 79.51 51.52 81.46 52.34   (e)Short-term loans and advances 5,354 2,702
  (b)Diluted 17.60 18.96 12.26 79.51 51.52 81.46 52.34   (f)Other current assets 25 78
PART II                   Sub-total - Current assets 51,984 30,866
A PARTICULARS OF SHAREHOLDING                 TOTAL-ASSETS 104,015 83,716
1. Public shareholding:                      
  -Number of shares 5,931,984 5,931,984 4,500,047 5,931,984 4,500,047            
  -Percentage of shareholding 25.00 25.00 18.97 25.00 18.97            
2. 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 17,795,950 17,795,950 19,227,887 17,795,950 19,227,887            
  -Percentage of shares(as a % of the total shareholding of the promoter and promoter group) 100 100 100 100 100            
  -Percentage of shares(as a % of the total share capital of the company) 75.00 75.00 81.03 75.00 81.03            
  Particulars 3 months ended 31/03/2013                    
B INVESTOR COMPLAINTS                      
  Pending at the beginning of the quarter -                    
  Received during the quarter 1                    
  Disposed of during the quarter 1                    
  Remaining unresolved at the end of the quarter -                    

Notes :

  1. The Company has changed its Accounting year to commence from 1st April of every year and to end on 31st March of the following year, to proactively comply with the proposed Companies Bill 2012. Consequent to this, the current accounting period is for the fifteen months period from January 1 ,2012 to March 31,2013.
  2. Net Sales/income from operations (inclusive of fuel surcharge) has recorded an increase of 8.40 % for the quarter ended March, 2013 as compared to the corresponding quarter of the previous year.
  3. The Board of Directors have recommended a dividend of Rs.71/-per share for the fifteen months period ended March 31,2013.
  4. Pursuant to reclassification of an amount of Rs.2,016 lacs from Computers and Computer software,into self generated software,depreciation charge during the current quarter ended March 31, 2013 is lower by Rs.156 Lacs vis-a'- vis corresponding previous quarter.
  5. On November 23, 2012 DHL Express (Singapore) Pte. Ltd. reduced its promoter shareholding in the Company to 75% to comply with the minimum 25% public shareholding requirements as set out in Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended.
  6. 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.
  7. The Consolidated Financial results represent those of Blue Dart Express Limited and its Wholly Owned Subsidiary Company, 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, its Associate Company 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.
  8. The results for the quarter ended March 31, 2013 are the balancing figures between audited figures in respect of the fifteen months period ended March 31, 2013 and the published year to date figures up to twelve months period ended December 31, 2012 of the current financial period.
  9. The prior period's figures have been regrouped and reclassified wherever necessary to conform to current period's classification.
  10. The above results were reviewed by the Audit Committee and were thereafter approved by the Board at its meeting held on May 02, 2013. There are no qualifications in the Auditors' Report issued for the fifteen months period ended March 31, 2013

By Order of the Board
For Blue Dart Express Limited

 

sd/-

Anil Khanna
(Managing Director)

 

Date : May 02,2013
Place : Mumbai

For further information contact :

marketing@bluedart.com
Dated : May 02,2013

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