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Press Release
Blue Dart's Net Up By 79%
Blue Dart Express Limited, India's leading integrated air express carrier and premium logistics services provider, declared its financial results for the third quarter ended December 31, 2000 at a Board Meeting held in the city today.

The Company's sales for the nine months of the financial year 2000-2001 has increased by 25% as compared to the corresponding nine months of the previous year. The Company's Net Profit for the nine months of the financial year 2000-2001 is up by 79%, and Operating Margins have significantly improved from 13% to 16%, against the first nine months of the previous year.

Blue Dart has improved its earnings by recording a profit before tax of Rs.808 lacs for the quarter, as against Rs.452 lacs of the corresponding quarter of the previous year.

Commenting on Blue Dart's performance, 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 by 25%. The Company's wholly owned subsidiary has reimported its 3rd aircraft, after conversion into cargo role, as part of its expansion drive and fleet enhancement plan in the month of January, in support of market demand and infrastructural need of the country. The entire payload of the Aircraft has been chartered by Blue Dart Express Ltd." The Company's wholly owned subsidiary Blue Dart Aviation Ltd has recorded a profit for the third 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 express transportation company.
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BLUE DART EXPRESS LIMITED

Unaudited Financial Results for the Quarter Ended
December 31, 2000

(All figures are in Rs lacs)

  PARTICULARS Quarter ended 31-12-00 (Unaudited) Quarter ended 31-12-99 (Unaudited) Nine Months ended 31-12-00 (Unaudited) Nine Months ended 31-12-99 (Unaudited) Year ended 31-03-00 (Audited)
1. Net Sales/ Income from operations 6,675 5,380 18,621 14,892 20,531
2. Other Income 4 4 11 11 15
3. Total Income 6,679 5,384 18,632 14,904 20,546
4. Staff Cost 996 851 2,874 2,386 3,256
5. Freight, Handling and Servicing Costs 3,935 3,160 11,055 8,996 12,351
6. Other Expenses 588 551 1,731 1,597 2,281
7. Total Expenditure 5,519 4,563 15,659 12,979 17,888
8. Interest (net) 200 271 793 694 877
9. Depreciation 152 98 421 276 379
10. Profit (+)/ Loss (-) before Tax 808 452 1759 955 1,401
11. Provision for Taxation 100 42 280 127 170
12. Net Profit (+)/ Loss (-) 708 410 1479 828 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 (in Rs.) for the period (not annualised) 5.94 3.44 12.42 6.95 10.33

Notes :

  1. The Company has recorded an overall growth of 25% on sales over the nine months of the previous year.
  2. The Company has recorded an increase of 79% in Net profit compared to the nine months of the previous year.
  3. The Company's operating margin has improved from 13% to 16% compared to the nine months of the previous year.
  4. The Company's wholly owned subsidiary Blue Dart Aviation Limited has recorded a profit for the third quarter of the current year
  5. The Company's wholly owned subsidiary has reimported its 3rd Aircraft, after conversion into Cargo role, as part of its expansion drive and fleet enhancement plan in the month of January, in support of market demand and the infrastructural need of the country. The entire payload of the Aircraft has been chartered by Blue Dart Express Ltd.
  6. The previous year's figures have been regrouped and reclassified to make it comparable with the current year figures.
  7. The above results were adopted by the Board at its meeting held on 23rd January'2001

By Order of the Board
For BLUE DART EXPRESS LIMITED.


(CLYDE COOPER)   
MANAGING DIRECTOR

Place : Mumbai
Date : 23rd January,2001

For further information contact

marketing@bluedart.com
Dated : January 23, 2001

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