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Blue Dart's Net Up By 85%

Blue Dart Express Limited, India's leading integrated air express carrier and premium logistics services provider, declared its financial results for the second quarter ended September 30, 2000 at a Board Meeting held in the city today.

The Company's sales for the second quarter of the financial year 2000-2001 has increased by 25% as compared to the second quarter of the previous year. Blue Dart has improved its earnings by recording a profit before tax of Rs.572 lacs for the quarter, as against Rs.321 lacs of the corresponding quarter of the previous year.

Commenting on Blue Dart's performance for the second quarter, Mr. Clyde Cooper, Managing Director, Blue Dart Express Limited said, "The Company continues to strengthen its dominance in the Domestic Markets and has significantly grown its domestic core products by over 30% as compared to the corresponding quarter of the previous year."

The Company's Net Profit for the first half of the year is up by 85% and Operating Margins have significantly improved from 12% to 15%, against the first half of the previous year.

The Company's wholly owned subsidiary Blue Dart Aviation has recorded a profit for the second quarter of this year.

Blue Dart Express Limited is India's leading integrated air express carrier and premium logistics services provider with a 38% market share. The Company offers a comprehensive range of services and products for both international and domestic shippers. Blue Dart's continuous commitment towards identifying and addressing the needs and concerns of the customer has enabled it to provide unmatched standards of service quality with over 99.95% reliability levels in the express industry. Over the years, Blue Dart has continuously evolved to meet the growing demands of business and the customer, innovating new products and expanding its network and infrastructure, thereby increasing its market share in the country. Blue Dart is one of the largest Global Service Participants of FedEx, the world's largest air express transportation company.

BLUE DART EXPRESS LIMITED

Unaudited Financial Results for the Quarter

Ended September 30, 2000

(All figures are in Rs lacs)

 

  PARTICULARS Quarter ended 30-09-00 (Unaudited) Quarter ended 30-09-99 (Unaudited) Half Year ended 30-09-00 (Unaudited) Half Year ended 30-09-99 (Unaudited) Year ended 31-03-00 (Audited)
1. Net Sales/ Income from operations 6,301 5,028 11,946 11,946 20,531
2. Other Income 4 4 7 7 15
3. Total Income 6,304 5,032 11,953 9,520 20,546
4. Staff Cost 993 805 1,878 1,535 3,256
5. Freight, Handling and Servicing Costs 3,698 3,032 7,119 5,836 12,351
6. Other Expenses 600 543 1,150 1,046 2,281
7. Total Expenditure 5,291 4,379 10,147 8,416 17,888
8. Interest (net) 291 238 586 424 877
9. Depreciation 150 94 269 178 379
10. Profit (+)/ Loss (-) before Tax 572 321 951 503 1,401
11. Provision for Taxation 90 42 180 85 170
12. Net Profit (+)/ Loss (-) 482 279 771 418 1,231
13. Paid-up Equity Share Capital 1,189 1,188 1,189 1,188 1,189
14. Reserves (as at 31.03.2000) - - - - 7,733
15. E P S (Not annualised for the quarter & half year) 4.04 2.34 6.47 3.50 10.33

Notes :

  1. The Company has recorded an overall growth of 26% on Sales over the first half of the previous year.
  2. The Company has recorded an increase of 85% on Net Profit over the first half of the previous year.
  3. The Company's Operating Margin have improved from 12% to 15%, against the first half of the previous year.
  4. Increase in Interest and Depreciation cost as compared to the previous year is on account of commencement of commercial operations of Superhub since September 1999.
  5. The Company's wholly owned subsidiary Blue Dart Aviation Limited has recorded a profit for the second quarter of the current year.
  6. Provision for Tax has been made for the half year ended September, 2000 based on the results upto September'2000 and projection for the second half of the financial year ending March'2001.
  7. Previous year's figures have been regrouped and reclassified to make it comparable with the current year figures.
  8. In accordance with the requirements of clause 41 of the listing agreement with the Stock Exchange, the Statutory Auditors have performed a limited review of the above financial results for the six months ended 30th September'2000.
  9. The above results were adopted by the Board at their meeting held on 18th October, 2000

By Order of the Board
For Blue Dart Express Limited

 

Sd/-

(CLYDE COOPER)
(Managing Director)

 

Date : 18th October,2000.
Place : Mumbai

For further information contact :

marketing@bluedart.com
Dated :January 23, 2001

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