Blue Dart's Sales up at 22 %

Mumbai : July 24, 2001: Blue Dart Express Limited, India's leading integrated air express and logistics service provider, declared its financial results for the first quarter ended June 30, 2001 at the Board Meeting held in the city today. Consolidated net profit for the first quarter is up by 40% as compared to the corresponding quarter of the previous year.

The Company's Income from operations for the first quarter of the financial year 2001-2002 has increased by 22% as compared to the first quarter of the previous year. Blue Dart has improved its earnings by recording a consolidated Profit Before Tax of Rs.530 Lacs as against Rs. 380 Lacs of the corresponding quarter of the previous financial year. The above results are after absorption of the additional cost of operation of its third Aircraft, as compared to the corresponding previous year quarter.

Commenting on Blue Dart's performance for the first quarter, Mr. Clyde Cooper, Managing Director, Blue Dart Express Limited said, "The Company continues to strengthen its dominance in the domestic markets and in building air integrated solutions for its customers needs, recognising that the fastest way, from the source of production to the markets for consumption, has the greatest marketing and distribution competitive edge for its customers, in challenging times, where lean inventory and reduction of middlemen in the supply chain, are the key factors towards success, besides information and reach."

Blue Dart Express Limited is India's leading air express transportation company and logistics services provider, with over 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 99.98% 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.

Notes :

1. The Consolidated accounts represents those of Blue Dart Express Limited and Blue Dart Aviation Limited.
2. The Company has recorded an overall growth of 22% on Income from operations over the first quarter of the previous year.
3. The Profit Before Tax has recorded an increase of 32% over the first quarter of the previous year and the consolidated profit is Rs.530 lacs in the first quarter.
4. The Company's wholly owned subsidiary Blue Dart Aviation Limited has recorded a profit for the first quarter of the current year.
5. The Accounting Standard on Consolidation of Financial Statements became mandatory, effective accounting periods commencing on or after April 1, 2001. The Company adopted the above Standard from the year ended March 31, 2001. The Company has consolidated its first quarter results based on the said Standard.
6. The Accounting Standards on Segmental Reporting, Earnings Per Share and Accounting for Taxes on Income became effective from April 1, 2001. As per the Press Release issued by SEBI dated July 17, 2001 additional disclosures on Segmental Reporting, Earnings Per Share and Accounting for Taxes on Income are required in the quarterly unaudited financial results for the quarters ending on or after September 30, 2001,
7. Prior year's figures have been regrouped and reclassified to make it comparable with the current year figures.
8. The above results were adopted by the Board at its meeting held on 24th July, 2001

Place : Mumbai
Date : 24th July, 2001

For further information contact

marketing@bluedart.com
Dated : July 24, 2001