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Blue Dart Sales at Rs. 581.66 crores

- The Company posted Rs. 30.81 cr profit after tax

Mumbai : October 14, 2014

Blue Dart Express Limited, South Asia's premier express air and integrated transportation, distribution and logistics company, today declared its financial results for the quarter ended September 30, 2014, at its Board Meeting held in Mumbai.

The company posted Rs. 30.81 crores profit after tax for the quarter ended September 30, 2014. Net Sales/Income from operations for the quarter ended September 30, 2014 stood at Rs. 581.66 crores.

Anil Khanna, Managing Director, Blue Dart Express Limited said, "We are pleased to announce that we have sustained our growth momentum in our performance this quarter. Despite a challenging macro-economic environment, Blue Dart has continued to be resilient and has displayed exemplary quality and service excellence. We have maintained a strong focus on our e-tailing business and SME sector. Going forward we will continue to drive our business through the widest range of innovative products and services with the support of our passionate people force, dedicated air and ground infrastructure and superior technology."

He further added, "Blue Dart continues to be one of the most admired and awarded companies in India. Recently Blue Dart was honoured with the Readers' Digest Trusted Brand Gold Award 2014, voted amongst Top 50 'India's Best Companies to Work For 2014' by the Great Place to Workᆴ Institute, India for the fifth consecutive year and was also voted a Superbrand for the seventh year in a row."

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 34,720 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 Award', one of 'India's Best Companies to Work For' by The Great Place to Workᆴ Institute five times in a row, '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

Regd.Office : Blue Dart Centre,Sahar Airport Road, Andher(East), Mumbai - 400 099.

Tel: 28396444 Fax: 28244131 Website: www.bluedart.com e-Mail id: communications@bluedart.com
CIN:L61074MH1991PLC061074

(Rs in Lakhs)

Statement of Standalone Unaudited Results for the Quarter and Half Year Ended 30/09/2014

Standalone Statement of Assets and Liabilities as at 30/09/2014

PART I

  Particulars Quarter Ended 30/09/2014(Unaudited) Quarter Ended 30/06/2014(Unaudited) Quarter Ended 30/09/2013(Unaudited) Half Year Ended 30/09/2014(Unaudited) Half Year Ended 30/09/2013(Unaudited Year Ended 31/03/2014(Audited)   Particulars As at 30/09/2014(Unaudited) As at 31/03/2014(Audited)
1. Income from operations               A. EQUITY AND LIABILITIES    
  (a)Net Sales/income from operations 58,166 52,694 47,102 110,860 92,421 193,251   1.Shareholders'funds    
  (b)Other operating income 1 1 58 2 91 164   (a)Share Capital 2,376 2,376
  Total income from operations(net) 58,167 52,695 47,160 110,862 92,512 193,415   (b)Reserves and surplus 67,352 61,153
2. Expenses               Sub-total - Shareholder's funds 69,728 63,529
  (a)Freight,handling and servicing costs(net) 40,072 34,935 32,001 75,007 62,232 132,729   2. Non-current liabilities    
  (b)Employee benefits expense 7,937 7,513 6,893 15,450 13,278 26,485   (a)Deferred tax liabilities(net) 1,640 1,754
  (c)Depreciation and amortisation expense 1,070 963 683 2,033 1,356 2,710   (b)Other long-term liabilities - -
  (d)Other expenses 5,101 4,549 4,087 9,650 7,988 16,948   (c)Long-term provision 916 916
  Total expenses 54,180 47,960 43,664 102,140 84,854 178,872   Sub-total - Non-current liabilities 2,556 2,556
3. Profit From operations before other income,finance costs and exceptional items 3,987 4,735 3,496 8,722 7,658 14,543   3. Current liabilities    
4. Other income 664 661 856 1,325 2,704 4,197   (a)Trade payables 13,602 10,588
5. Profit from ordinary activities before finance costs and exceptional items 4,651 5,396 4,352 10,047 10,362 18,740   (b)Other current liabilities 14,464 11,700
6. Finance costs   1 1 1   2 3   (c)Short term provisions 415 4,589
7. Profit from ordinary activities after finance costs but before exceptional items 4,651 5,395 4,351 10,046 10,360 18,737   Sub-total - current liabilities 28,481 26,877
8. Exceptional items - - - - - -   TOTAL-EQUITY AND LIABILITIES 100,765 93,076
9. Profit from ordinary activities before tax 4,651 5,395 4,351 10,046 10,360 18,737   B. ASSETS    
10. Tax expense 1,570 1,979 1,345 3,549 3,289 6,297   1. Non-current assets    
11. Net Profit from ordinary activities after tax 3,081 3,416 3,006 6,497 7,071 12,440   (a)Fixed assets 23,409 23,618
12. Extraordinary items (net of tax expense) - - - - - -   (b)Non-current investments 1,977 1,977
13. Net Profit for the period 3,081 3,416 3,006 6,497 7,071 12,440   (c)Long-term loans and advances 21,780 23,195
14. Paid-up equity share capital(Face value Rs 10/- per share) 2,373 2,373 2,373 2,373 2,373 2,373   (d)Other non-current assets 44 43
15. Reserves excluding Revaluation Reserve as per balance Sheet of previous accounting year           61,153   Sub-total - Non current assets 47,210 48,833
16.i Earnings per share(before extraordinary items)(of Rs.10/- each)(not annualised)               2. Current assets    
  (a)Basic 12.98 14.40 12.67 27.38 29.80 52.43   (a)Current investments 8,155 -
  (b)Diluted 12.98 14.40 12.67 27.38 29.80 52.43   (b)Inventories 308 272
16.ii Earnings per share(after extraordinary items)(of Rs.10/- each)(not annualised)               (c)Trade receivables 30,114 26,672
  (a)Basic 12.98 14.10 12.67 27.38 29.80 52.43   (d)Cash and Bank balances 6,056 10,593
  (b)Diluted 12.98 14.40 12.67 27.38 29.80 52.43   (e)Short-term loans and advances 8,677 6,702
PART II                 Other current assets 245 4
A PARTICULARS OF SHAREHOLDING               Sub-total-Current assets 53,555 44,243
1. Public shareholding:               TOTAL-ASSETS 100,765 93,076
  -Number of shares 5,931,984 5,931,984 5,931,984 5,931,984 5,931,984 5,931,984        
  -Percentage of shareholding 25.00 25.00 25.00 25.00 25.00 25.00        
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 17,795,950 17,795,950 17,795,950 17,795,950        
  -Percentage of shares(as a % of the total shareholding of the promoter and promoter group) 100 100 100 100 100 100        
  -Percentage of shares(as a % of the total share capital of the company) 75 75 75 75 75 75        
  Particulars 3 months ended 30/09/2014                  
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. Net Sales/income from operations (inclusive of fuel surcharge and currency adjustment factor) has recorded an increase of 23.49 % for the quarter ended Septemer 30,2014 as compared to the corresponding quarter of the previous year.
  2. During the quarter ended June 30, 2014, the management reassessed the remaining useful life of assets as prescribed in Schedule II of the Companies Act, 2013, and has taken additional depreciation charge of Rs.523 Lacs for the half year ended September 30, 2014 including Rs.228 Lacs for the quarter ended September 30, 2014 in addition to Rs.298 Lacs (net of tax) adjusted to General Reserve being the carrying value of assets having a Nil revised remaining useful life as of April 1, 2014.
  3. Freight, handling and servicing costs for the quarter and half year ended September 30, 2014 include an amount of Rs.1,591 Lacs towards impairment of an overhauled aircraft engine.
  4. The Hon'ble Bombay High Court vide its order dated September 19, 2014 sanctioned the 'Scheme of Arrangement' for issuance of unsecured, redeemable, non-convertible, fully paid up debentures of Rs. 10/- each (Rupees Ten Only), by way of Bonus, viz; 7 Debentures under Series I Debentures, 4 Debentures under Series II Debentures and 3 Debentures under Series III Debentures respectively for every 1 (one) equity share of the Company held by the Shareholders on Record date to be fixed for this purpose. As required under the SEBI Circular dated February 4, 2013, the Company has made an application to the Stock Exchanges and approval formalities are in progress.
  5. 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 the Companies Act, 1956 read with the General Circular 15/2013 dated September 13, 2013 of the Ministry of Corporate Affairs in respect of Section 133 of the Companies Act, 2013.
  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, 2014 as well as of the Statement of Assets and Liabilities as at September 30, 2014. There are no qualifications in the limited review report issued for the above period.
  8. The above results were reviewed by the Audit Committee and were thereafter approved by the Board at its meeting held on October 14,2014.

By Order of the Board
For Blue Dart Express Limited

 

Sd/-

Anil Khanna
(Managing Director)
DIN: 01334483

 

Date : October 14,2014
Place : Mumbai

For further information contact :

marketing@bluedart.com
Dated : October 14,2014

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