Press127
Blue Dart Revenue up at 240.64 Crores.
Mumbai : April 22, 2008
Blue Dart Express Limited, South Asia's No.1 integrated air express, courier and logistics company, today declared its financial results for the first quarter ended March 31, 2008 at its Board Meeting held in Mumbai.
Income from operations for the 1st quarter 2008 was Rs. 239.70 Crores, an increase of 31.95% over the corresponding quarter of the previous year. The company posted Rs. 45.66 Crore profit before tax for the quarter ended March 31, 2008, as compared to Rs. 23.43 Crore for the quarter ended March 31, 2007.
Speaking on the occasion, Anil Khanna, Managing Director, Blue Dart Express Ltd said "Blue Dart in its 25th year of operations stands committed to its role of a trade facilitator. We have over the years built our differentiation on the fundamentals of service excellence and customer centricity. We serve a loyal customer base and our results are a confirmation of our customer's trust in us and of our commitment to serve their business."
He further added "With the reinforcement of our ground express product 'Dart Surfaceline' last year, we have now expanded our reach to over 20,843 locations across the country. Today, we are the only service provider with a distinctive capability to offer the entire gamut of express distribution solutions."
About Blue Dart:
Blue Dart, South Asia's premier courier, and integrated express package Distribution Company, offers secure and reliable delivery of consignments to over 20,800 locations in India.
As part of the DHL Group (DHL Express, DHL Global Forwarding & DHL Exel Supply Chain), Blue Dart accesses the largest and most comprehensive express and logistics network worldwide, covering over 220 countries and offers an entire spectrum of distribution services including air express, freight forwarding supply chain solutions & customs clearance.
Blue Dart was selected as a Business Superbrand from over 1,699 brands. It also received the Readers Digest's Most Trusted Brand Gold Award and is listed in 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. For further information, please visit our website at www.bluedart.com
BLUE DART EXPRESS LIMITED
Unaudited Financial Results for the Quarter ended March 31, 2008
| Sr. No. | Particulars | QuarterEnded31-03-2008(Unaudited) | QuarterEnded31-03-2007(Unaudited) | BDEL Year Ended 31-12-2007(Audited) |
|---|---|---|---|---|
| 1. | Net Sales/Income from operations | 2,397 | 1,816 | 8,087 |
| 2. | Other Income | 9 | 7 | 31 |
| 3. | Total Income | 2,406 | 1,823 | 8,118 |
| 4. | Expenditure | |||
| a. | Freight, Handling and Servicing Costs | 1,457 | 1,142 | 5,019 |
| b. | Employee Cost | 288 | 229 | 1,164 |
| c. | Depreciation | 39 | 93 | 240 |
| d. | Other Expenses | 165 | 124 | 625 |
| e. | Total | 1,949 | 1,588 | 7,048 |
| 5. | Interest (net) | 1 | 4 | |
| 6. | Profit from Ordinary Activities Before Tax | 457 | 234 | 1,066 |
| 7. | Tax Expense | 150 | 71 | 367 |
| 8. | Profit After Tax | 307 | 163 | 699 |
| 9. | Paid-up Equity Share Capital (Face value Rs 10/- per share) | 237 | 237 | 237 |
| 10. | Reserves | 2,935 | ||
| 11. | Earnings Per Share(In Rupees)- Basic and Diluted | 12.94 | 6.88 | 29.47 |
| 12. | Public shareholding: | |||
| -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 31.95% for the quarter ended March 31, 2008 as compared to the corresponding quarter of the previous year. Although management noted softening trends in the month of March 2008.
- Depreciation during the quarter is lower by Rs.54 Million vis-à-vis corresponding quarter of the previous year. The majority of the lower depreciation charge relates to the decision of the Company to 'Reduce to Produce' aircraft and the consequent accelerated depreciation charge on 'D-Check' in the year 2007.
- 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) as notified under Section 211(3C) of the Companies Act, 1956.
- The Company did not have any investor complaints pending as on March 31, 2008. There were two investors complaints received and disposed off during the quarter ended March 31, 2008.
- 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, 2008. 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 22, 2008.
By Order of the Board
For Blue Dart Express Limited
sd/-
Anil Khanna
( Managing Director)
Date : April 22, 2008
Place : Mumbai
For further information contact :
marketing@bluedart.com
Dated : April 22, 2008
