Blue Dart's Profits rise to Rs. 23.03 Crores
- Declares Bonus and Dividend.
Mumbai, May 08, 2001: Blue Dart Express Limited, India's largest integrated air express and logistics company, has registered a Rs. 25.83 Crore profit before tax and a net of Rs. 23.03 Crores for the year ended March 31, 2000-01 as compared with the corresponding figure of Rs. 12.31 Crores in the previous year. The total sales have registered a sharp increase of 25% over the last fiscal. Recognising the significant growth, the Board has recommended a Dividend of 35% and also Bonus Shares in the ratio of 1:1 (one equity share for every one share held).
The operating margins have improved significantly to 16% from 13% of the previous year. The growth has been attributed to enhanced net service levels, product innovation, expansion of domestic network and increased fleet capacity.
Commenting on the results, Mr. Clyde Cooper, Managing Director, Blue Dart Express Limited said, "Our biggest asset is our strong team of over 3,900 people, dedicated to providing solutions that fulfill the needs of our customers. We will continue to spearhead the air express and logistics industry through continuous investment in infrastructure, technology, training and development of our people, and product innovation to ensure sustainable growth".
Blue Dart Aviation, the 100% subsidiary of Blue Dart Express Limited, has recorded a profit of Rs. 42 Lacs for the financial year ended March 31, 2001.
Blue Dart Express Limited is India's leading integrated air express and logistics company with a 38% share in the domestic market. Blue Dart offers a comprehensive range of services and products for both international and domestic 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 99.95% reliability in the express industry. Over the years, Blue Dart has expanded the market rapidly, which is reflected in its turnover growth over the last three years. Blue Dart is the largest Global Service Participant of FedEx, the world's largest air express transportation company.
BLUE DART EXPRESS LIMITED
Audited Financial Results for the Year ended March 31, 2001
|PARTICULARS||Year ended31-03-2001(Audited)||Year ended31-03-2000(Audited)|
|1.||Net Sales/ Income from operations||25,617||20,486|
|5.||Freight, Handling and Servicing Costs||15,308||12,351|
|10.||Profit (+)/ Loss (-) before Tax||2,583||1,401|
|11.||Provision for Taxation||280||170|
|12.||Net Profit (+)/ Loss (-)||2,303|
|13.||Paid-up Equity Share Capital (Face value Rs. 10/- per share)||1,189||1,189|
|14.||Reserves (as at 31.03.2001)||9,579||7,733|
|16.||E P S (In rupees)||19.32||10.33|
- The Company has recorded an overall growth of 25% on Income from operations over the previous year
- The Company's Operating Margin has improved to 16% from 13% of the previous year.
- The Company has recorded an increase of 87% in Net profit over the previous year.
- The Company's wholly owned subsidiary Blue Dart Aviation Limited has recorded a profit for the year.
- The Board of Directors have recommended a dividend for the year of 35% compared to 20% of the previous year.
- The Board of Directors have recommended Issue of Bonus shares in the ratio of 1:1 (one equity share for every one share held).
- Previous year's figures have been regrouped and reclassified to make comparable with the current year figures.
- The above results were adopted by the Board at its meeting held on 8th May, 2001.
By Order of the Board
For BLUE DART EXPRESS LIMITED
Place : Mumbai
Date : 8th May, 2001
For further information contact
Dated : March 21, 2001