| Press Release |
Blue Dart Revenue Up at 182.31Crores
|
Mumbai :April 17, 2007
Blue Dart Express Limited, South Asia's largest integrated air express courier and package distribution company, today declared its financial results for the first quarter ended March 31, 2007 at their Board Meeting.
Income from operations for the 1st quarter 2007 was Rs. 181.66 crores, an increase of 19.53% over the corresponding quarter of the previous year, and profit before tax for the quarter was Rs. 23.43 crores despite the induction of two Boeing 757 aircraft in the 2nd quarter of 2006.
Anil Khanna, Managing Director, Blue Dart Express Limited said, "Strengthening of our infrastructure, especially our aviation system, is critical to meet increasing demand and ensuring service excellence. The induction of two B757 freighters provides greater capability to service our customers, and reinforces our commitment to facilitate India's trade and commerce. In the last quarter Blue Dart handled approximately 17 million shipments weighing over 42,000 tonnes.
"This year we have also planned to add 57 new facilities, 11 of which have already been made operational in the last quarter. Further, our ground network is being fortified to offer customers a one-stop distribution capability unmatched in the country. Currently, we are the only player in the domestic air express segment offering an unrivalled payload of 250 tonnes each night through our dedicated fleet of 2 B757s and 4 B737s", Anil Khanna added.
About Blue Dart:
Blue Dart, South Asia's premier courier, and integrated air express package Distribution Company, offers secure and reliable delivery of consignments to over 14,400 locations in India.
As part of the DHL Group, Blue Dart accesses the largest and most comprehensive express and logistics network worldwide, covering over 220 countries, and offering an entire spectrum of distribution services, including express, air freight, ocean freight, supply chain solutions, freight forwarding, customs clearance, project handling and charters through the 4 Business Units in India - DHL Express, DHL Global Forwarding, DHL Exel Supply Chain and Blue Dart.
Blue Dart was recently selected a Superbrand for the third time for 2006-07, from over 1,699 brands across 169 product categories, received the Readers Digest's Most Trusted Brand Gold Award, and is listed amongst the Dun & Bradstreet top 500 companies in India. The Blue Dart team drives marketplace leadership through its motivated people force, dedicated air capacity, cutting-edge technology, innovation, and value-added services, to deliver unmatched standards of service quality to its customers.
BLUE DART EXPRESS LIMITED
Unaudited Financial Results for the Quarter ended March 31, 2007
(All figures are in Rs.Mn.)
| Sr.No. |
Particulars |
Quarter
Ended
31-03-2007
(Unaudited)
|
Quarter
Ended
31-03-2006
(Unaudited)
|
Year
Ended
31-12-2006
(Audited)
|
| 1. |
Net Sales/Income from operations |
1,816 |
1,520 |
6,680 |
| 2. |
Other Income |
7 |
7 |
18 |
| 3. |
Total Income |
1,823 |
1,527 |
6,698 |
| 4. |
Staff Cost |
229 |
212 |
957 |
| 5. |
Freight, Handling and Servicing Costs |
1,142 |
903 |
4,266 |
| 6. |
Other Expenses |
124 |
100 |
460 |
| 7. |
Total Expenditure |
1,495 |
1,215 |
5,683 |
| 8. |
Interest (net) |
1 |
6 |
16 |
| 9. |
Depreciation |
93 |
46 |
220 |
| 10. |
Profit Before Tax |
234 |
260 |
779 |
| 11. |
Provision for Tax (including Fringe Benefit
Tax) |
71 |
78 |
277 |
| 12. |
Profit After Tax |
163 |
182 |
502 |
| 13. |
Paid-up Equity Share Capital (Face value Rs 10/-
per share) |
237 |
237 |
237 |
| 14. |
Reserves |
- |
- |
2,265 |
| 15. |
E
P S (In Rupees) |
6.88 |
7.68 |
21.17 |
| 16. |
Aggregate of Non-promoter
shareholdings: |
| -Number of Shares |
4,500,047 |
4,500,047 |
4,500,047 |
| -Percentage of Shareholding |
18.97 |
18.97 |
18.97 |
Notes :
- Income from operations has recorded an increase of
19.53% over the corresponding quarter of the previous
year.
- Effective June 1, 2006 the Company inducted two Boeing
757 freighter aircraft and also connected Ahmedabad as its
seventh aviation hub and made Hyderabad as an outbound
gateway, which together resulted in increased Freight,
Handling and Servicing costs over the corresponding quarter
of the previous year.
- During the year ended December 31, 2006 the Company had
revised the estimated useful life of certain assets under
the block of Office Equipment, Electrical Equipment,
Computers, and Aircraft Engines, and during the current quarter
revised the estimated useful life of D-Check on aircraft,
to more appropriately reflect the pattern in which these assets’
economic benefits are expected to be availed. As a result of this
change,depreciation during the current quarter is higher by Rs.
48.54 Million vis-à-vis corresponding quarter of the
previous year.
- The Company is primarily engaged in a single segment
business of integrated transportation and distribution of
shipments 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 ) issued by the Institute of
Chartered Accountants of India.
- The Company did not have any investor complaints pending
as on December 31, 2006 and March 31, 2007. There was one
investors' complaint received and disposed off during the
quarter ended March 31, 2007.
- The prior period's figures have been regrouped and
reclassified wherever necessary to conform to current
period's classification.
- 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 March 31, 2007.
There are no qualifications in the limited review report
issued for the above quarter.
- The above results were reviewed by the Audit Committee
and were thereafter approved by the Board at its meeting
held on April 17, 2007.
By Order of the Board
For Blue Dart Express Limited
sd/-
Anil Khanna
(Managing Director)
Date : April 17, 2007
Place : Mumbai
For further information contact :
marketing@bluedart.com
Dated : April 17, 2007
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