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| Press Release |
Blue Dart Sales up 13.6%
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Mumbai: July 25, 2002
Blue Dart Express Limited, South Asia's largest integrated air express, courier and logistics company, declared its financial results for the first quarter ended June 30, 2002 at the Board Meeting held in the city today.
The Company's Income from operations for the first quarter of the financial year 2002-2003 has increased by 13.6% as compared to the first quarter of the previous year. Blue Dart has increased its profit after tax by 20% to Rs. 451 lacs for the first quarter as compared to the previous year.
Commenting on the results, Mr. Clyde Cooper, Managing Director, Blue Dart Express Limited said "The Company has attributed these results to growth in the small package segment. With healthy load factors and the three aircraft running at optimal levels, Blue Dart has been able to fulfill a vital demand for quality capacity. This has also helped in implementation of Just-in-time distribution and Supply Chain Management Solutions. Blue Dart has added infrastructure, network connectivity and enhanced capacity, mainly to sustain quality service and operational efficiency for future growth."
Blue Dart, South Asia's leading courier and integrated air express package distribution company with dedicated aviation infrastructure, offers secure and reliable delivery of consignments to over 13,000 locations in the region. The Blue Dart team drives marketplace leadership through its unique aviation system, 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 June 30,
2002
(All figures are in Rs lacs)
| |
PARTICULARS |
B.D.E.L. Quarter ended 30-06-02
(Unaudited) |
B.D.E.L. Quarter ended 30-06-01 (Unaudited) |
B.D.E.L.
Year
ended 31-03-02 (Audited) |
B.D.E. Consolidated Quarter ended
30-06-02 (Unaudited) | B.D.E. Consolidated Quarter ended
30-06-01 (Unaudited) |
B.D.E. Consolidated Year ended 31-03-02 (Audited) |
| 1. |
Net Sales/ Income from operations |
7,791 |
6,858 |
28,667 |
7,781 |
6,862 |
28,648 |
| 2. |
Other Income |
7 |
7 |
59 |
11 |
4 | 115 |
| 3. |
Total Income |
7,798 |
6,865 |
28,726 |
7,792 | 6,866 |
28,763 |
| 4. |
Staff Cost |
1,166 |
1,041 |
4,511 |
1,566 | 1,412 |
5,868 |
| 5. |
Freight, Handling and Servicing Costs |
4,920 |
4,354 |
17,527 |
4,177 | 3,633 |
14,910 |
| 6. |
Other Expenses |
659 |
592 |
2,653 |
806 | 743 |
3,200 |
| 7. |
Total Expenditure |
6,745 |
5,987 |
24,691 |
6,549 |
5,788 |
23,978 |
| 8. |
Interest (net) |
195 |
245 |
887 |
270 |
331 |
1,185 |
| 9. |
Depreciation |
160 |
132 |
621 |
257 |
217 |
1,033 |
| 10. |
Profit Before Tax |
698 |
501 |
2,527 |
716 |
530 |
2,567 |
| 11. |
Provision for Taxation
-Current
|
233 |
125 |
395 |
233 |
125 |
395 |
| -
Deferred |
14 |
-
|
331 |
14
|
- |
343
|
| 12. |
Profit After Tax |
451 |
376
|
1,801 |
469 | 405 |
1829 |
| 13. |
Paid-up Equity Share Capital (Face value Rs.10/-
per share) |
2,373 |
1,189 |
2,373 |
2,373 |
1,189 |
2,373 |
| 14. |
Reserves |
- |
- |
8,479 |
- |
- |
8,032 |
| 15. |
E P S (in Rs.) (Unadjusted ) |
- |
3.16
|
- |
-
| 3.40 |
-
|
| (
Adjusted, Refer note 4 below) |
1.90 |
1.58
|
7.59 |
1.98
|
1.71 |
7.71
|
| 16. |
Aggregate of Non-Promoter
shareholdings: |
- |
- |
- |
- |
- |
- |
| -Number of Shares |
11,610,138 |
5,857,769 | 11,610,138 | - |
- |
- |
| -Percentage of
Shareholding |
48.93 |
49.16 |
48.93 |
- |
- |
- |
Notes :
- The Consolidated Financial Results represent those of Blue Dart Express Limited and its wholly owned subsidiary, Blue Dart Aviation Limited.
- The Company has consolidated its results based on the Accouting Standard on Consolidation of Financial Statements (AS-21) issued by the Institute of Chartered Accountants of India which became mandatory effective accounting periods commencing on or after April 1, 2001.
- The Company has recorded an overall growth of 13.6% on Income from operations over the first quarter of previous year.
- Pursuant to the issue of Bonus shares in the ratio of 1:1, the Company's paid-up Equity Share Capital stands enhanced to Rs.23.73 crores, effective 4th September, 2001.Earnings Per Share have been calculated in line with the Accounting Standard 20 "Earnings Per Share" issued by the Institute of Chartered Accountants of India. Earnings Per Share for the corresponding periods of the previous year have been accordingly calculated after adjusting for the Bonus shares issued.
- 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 (AS-17) issued by the Institute of Chartered Accountants of India.
- The prior year's figures have been regrouped and reclassified wherever necessary, to make it comparable with the current year figures.
- The above results were reviewed by the Audit Committee and were thereafter approved by the Board at its meeting
held on 25th July, 2002.
By Order of the Board
For Blue Dart Express Limited
sd/-
(Clyde Cooper)
Managing Director
Place : Mumbai
Date : 25th July, 2002
For further information contact :
marketing@bluedart.com
Dated : July 25, 2002
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