| Press Release |
Blue Dart's Sales up 12%
|
Mumbai : October 22, 2002:
Blue Dart Express Limited, South Asia's largest integrated air express, courier and logistics company, declared its financial results for the half year ended September 30, 2002 at a Board Meeting held in the city today.
The Company's Income from operations for the half year ended September 30, 2002 has increased by 12% as compared to the corresponding first half of the previous year. Blue Dart has increased its profit after tax by 22% to Rs. 932 lacs for the first half as compared to the corresponding previous year.
Commenting on the results, Clyde Cooper, Managing Director, Blue Dart Express Limited said, "The continued growth of Blue Dart is testimony of the faith our customers have continued to repose in the quality of service we offer. During the last quarter we have increased our distribution reach in
Maharashtra, Orissa and West Bengal, augmented our warehouse capacity at New Delhi and expanded our regional headquarters to our own larger, new premises at Bangalore."
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. Through its sales alliance with world #1, DHL Worldwide Express, Blue Dart offers its customers the DHL advantage of global reach, unmatched cross-border specialisation and greater network flexibility. Blue Dart has
been re-certified recently, as one of a handful of Indian companies, to the new global ISO 9001-2000 standards. 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
Audited Financial Results for the Half Year ended September 30, 2002
(All figures are in Rs lacs)
| |
PARTICULARS |
B.D.E.L.
Quarter
Ended
30-09-02
(Unaudited) |
B.D.E.L.
Quarter
Ended
30-09-01
(Unaudited) |
B.D.E.L.
Half Year
Ended
30-09-02
(Audited) |
B.D.E.L.
Half Year
Ended
30-09-01
(Audited) |
B.D.E.L. Year Ended
31-03-02 (Audited) |
Consolidated
Half Year
Ended
30-09-02
(Audited) |
Consolidated
Year
Ended
31-03-02
(Audited) |
| 1. |
Net Sales/Income from operations |
8,008 |
7,237 |
15,799 |
14,096 |
28,667 |
15,780 |
28,648 |
| 2. |
Other
Income |
6 |
10 |
13 |
16 |
59 |
8 |
115 |
| 3. |
Total
Income |
8,014 |
7,247 |
15,812 |
14,112 |
28,726 |
15,788 |
28,763 |
| 4. |
Staff
Cost |
1,216 |
1,127 |
2,382 |
2,169 |
4,511 |
3,230 |
5,868 |
| 5. |
Freight,
Handling and Servicing Costs |
4,936 |
4,566 |
9,856 |
8,920 |
17,527 |
8,344 |
14,910 |
| 6. |
Other
Expenses |
739 |
665 |
1,398 |
1,257 |
2,653 |
1,652 |
3,200 |
| 7. |
Total
Expenditure |
6,891 |
6,358 |
13,636 |
12,346 |
24,691 |
13,226 |
23,978 |
| 8. |
Interest
(net) |
169 |
223 |
365 |
467 |
887 |
510 |
1,185 |
| 9. |
Depreciation |
195 |
155 |
355 |
287 |
621 |
549 |
1,033 |
| 10. |
Profit Before Tax |
759 |
511 |
1,456 |
1,012 |
2,527 |
1,503 |
2,567 |
| 11. |
Provision for Taxation |
278 |
125 |
524 |
250 |
726 |
423 |
738 |
| 12. |
Profit After Tax |
481 |
386 |
932 |
762 |
1,801 |
1,080 |
1,829 |
| 13. |
Paid-up
Equity Share Capital (Face value Rs 10/- per share) |
2,373 |
2,373 |
2,373 |
2,373 |
2,373 |
2,373 |
2,373 |
| 14. |
Reserves |
9,411 |
8,204 |
9,411 |
8,204 |
8,479 |
9,112 |
8,032 |
| 15. |
E P S (in
Rs.) |
2.03 |
1.63 |
3.93 |
3.21 |
7.59
|
4.55 |
7.71
|
| 16. |
Aggregate of Non-Promoter shareholdings: |
| -Number of Shares |
11,610,138 |
11,610,138 |
11,610,138 |
11,610,138 |
11,610,138 |
- |
- |
| -Percentage of Shareholding |
48.93 |
48.93 |
48.93 |
48.93 |
48.93 |
- |
- |
Notes :
- The Consolidated Accounts represents those of Blue Dart Express Limited and Blue Dart Aviation Limited.
- The Company has recorded an overall growth of 12% on Income from operations over the first half of previous year
- The Company has consolidated its results based on the Accounting Standard on Consolidation of Financial Statements (AS-21) issued by the Institute of Chartered Accountants of India which became mandatory effective accounting year commencing on or after April 1, 2001.
- 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 Company entered into a Sales Alliance agreement effective 1st October, 2002 with DHL Worldwide Express, to provide Blue Dart customers the advantages of DHL's global reach, unmatched cross-border specialisation, greater network flexibility and hi-tech infrastructure.
- Lloyd's Register Quality Assuarance (LRQA) has re-certified the Company countrywide with the new global standard ISO 9001:2000 for all Blue Dart's products and service offerings both within the region and to international destinations
- The prior period's figures have been regrouped and reclassified wherever necessary, to make it comparable with the current period figures.
- The above audited results were reviewed by the Audit Committee and were thereafter approved by the Board at its meeting held on 22nd October, 2002. There are no qualifications in the Audit reports issued for the above period.
By Order of the Board
For Blue Dart Express Limited
sd/-
(Clyde Cooper)
Managing Director
Date : 22nd October, 2002
Place : Mumbai
For further information contact :
marketing@bluedart.com
Dated : October 22, 2002
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