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Blue Dart's Profit More Than Doubles

Blue Dart Express Limited, India's leading air express transportation company and logistics services provider, declared its financial results for the first quarter ended June 30, 2000 at a Board Meeting held in the city today.

The Company's Income from operations for the first quarter of the financial year 2000-2001 has increased by 26% as compared to the first quarter of the previous year. Blue Dart has improved its earnings by recording a profit before tax of Rs.380 lacs as against Rs.182 lacs of the corresponding quarter of the previous financial year. The Company's domestic core products have shown significant growth by over 30% as compared to the corresponding quarter of the previous year.

Commenting on Blue Dart's performance for the first quarter, 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 its operating margin from 10% in the first quarter of 1999-2000 to 14% in the first quarter of the current financial year."

These results are after absorption of Interest and Depreciation cost of its Super Hub, located at Mumbai's prime location near Sahar Airport, which has enabled Blue Dart to substantially increase its load handling capacity.

The Company's wholly owned subsidiary Blue Dart Aviation has recorded a profit for the first quarter of this year.

Blue Dart Express Limited is India's leading air express transportation company and logistics services provider, with a 36% 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 EXPRESS LIMITED
Unaudited Financial Results for the Quarter Ended June 30, 2000

(All figures in Rs. lacs)

Particulars Quarter Ended 30th June 2000(Unaudited) Quarter Ended 30th June 1999(Unaudited) Quarter Ended 31st March 2000(Audited)
Net Sales/Income from Operations 5,645 4,484 20,531
Other Income 4 4 15
Total Income 5,649 4,488 20,546
Total Expenditure 4,856 4,037 17,888
Profit(+)/Loss(-)Before Depreciation, Interest & Taxation 793 451 2,657
Interest (Net) (295) (185) (877)
Profit(+)/Loss(-)After Interest but before Depreciation & Taxation 498 266 1,780
Depreciation 118 84 397
Profit(+)/Loss(-)Before Tax 380 182 1,401
Provision for Taxation - - -
Net Profit(+)/Loss(-) 380 182 1,231
Paid-up Equity Share Capital 1,189 1,188 1,189
Reserves (as at 31.03.2000) - - 7,733

Notes:

1. The Company has recorded an overall growth of 26% on Income from operations over the first quarter of the previous year.

2. The Company continues to improve its operating margin. The profit before tax has recorded an increase of 109% over the first quarter of the previous year.

3. Increase in the Interest and Depreciation cost as compared to the previous year is on account of commencement of commercial operations of Superhub since September 1999.

4. The Company's wholly owned subsidiary Blue Dart Aviation has recorded a profit for the first quarter of the current year.

5. Provision for Taxation shall be made at the end of the year.

6. The above results were adopted by the Board at its meeting held on 18th July, 2000.

 

By Order of the Board
for Blue Dart Express Limited

 

 

Place: Mumbai
Date: 18th July, 2000
(Clyde Cooper)
Managing Director

 

 

For further information contact :

marketing@bluedart.com
Dated : July 18, 2000

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