Blue Dart's Net for H1 up by 75% to Rs.503 Lacs

Blue Dart Express Limited, India's largest air express company declared its financial results for the second quarter ended September 30, 1999 at a Board Meeting held in the city today.

Blue Dart's domestic core products continue to grow at 28%, and the Company has improved its earnings by recording a profit before tax of Rs.503 lacs as against Rs.288 lacs of the corresponding first half of the previous year.

The Company's sales for the second quarter of the financial year 1999-00 have increased by 17% as compared to the second quarter of the previous year.

Commenting on Blue Dart's performance for the first half, Mr. Clyde Cooper, Managing Director, Blue Dart Express Limited said that the Company has improved its performance on all parameters. The Company continues to strengthen its dominance in the Domestic Markets and has significantly grown its operating profits with a mixture of topline growth and effective cost management.

The above results indicate steady profitability despite absence of lease income of Rs.492 lacs and after absorption of additional cost of Interest and Depreciation on account of commencement of commercial operations of the Superhub, as compared to the corresponding previous half year.

Lloyd's Register Quality Assurance has recertified the Company's Quality Management Systems, according to ISO 9001 standards, for a further period of 3 years.

Recently, CRISIL has assigned P1 rating for the company's short term debt programme indicating a very strong degree of safety. Blue Dart Express Limited enjoys the status of the only Express Company representing the newly formed BSE 500 Index.

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

Blue Dart Express Limited is India's leading express company with a 36% domestic market share. Blue Dart today offers a comprehensive range of services and products for both domestic and international shippers. Blue Dart's continuous commitment towards understanding the needs and concerns of the customer has enabled it to provide unmatched standards of service quality with above 99.9% reliability levels in the express industry. Over the years, Blue Dart has continuously pioneered and expanded its market share in the express industry as the industry leader. Blue Dart is one of the largest Global Service Participants of FedEx, the world's largest express transportation company.

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Dated : October 26, 1999.

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