Blue Dart Sales up by 30.8%
Mumbai : October 19, 2004:
Blue Dart Express Limited, South Asia's largest integrated air express, courier and logistics company, declared its financial results for the second quarter ended September 30, 2004 at a Board Meeting held in the city today.
The company posted a Rs 15.99 Crores profit before tax for the quarter ended September 30, 2004 as compared to Rs. 10.35 Crores for the quarter ended September 30, 2003. Net profit for the second quarter 2004 stood at Rs. 10.05 Crores up from Rs. 6.64 Crores over the corresponding quarter of the previous year. Income from operations for the second quarter 2004 was Rs 115.87 Crores, an increase of 30.8% over the corresponding quarter of the previous year.
Clyde Cooper, Managing Director, Blue Dart Express Limited said, "The second quarter has been a challenging one for Blue Dart with the huge price increases in Aviation Turbine Fuel in India of 43% since April 04. The Blue Dart Fuel Surcharge mechanism has been a successful mitigating measure to the impact of these spiralling costs.
We have for the first time expanded our brand and services overseas to Sri Lanka, thus reinforcing our position as a leader in South Asia, and our commitment to the customer in this region." He further added "The Company has also performed well over the past few months with the strengthening industry performance and requirement of time-definite distribution and supply chain management of their products to the markets. This was possible with the timely investments by the Company in infrastructure and capacity addition of 60 tons per night through the induction of our fourth aircraft in May 2004. All these initiatives are now beginning to yield the desired results as per plan. We look forward to playing an increasingly important role in trade and commerce in support of our customers' growth through distribution in the country and within the region. ".
Blue Dart, South Asia's leading courier and integrated air express package distribution company, with a market share of 39% and dedicated aviation infrastructure, offers secure and reliable delivery of consignments to over 13,700 locations in India and 800 locations in Bangladesh, Bhutan, Nepal, and Sri Lanka. Blue Dart was selected a Superbrand from over 700 brands across 98 categories in India. The Blue Dart team drives marketplace leadership through its motivated people force, 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, 2004
(All figures are in Rs lacs)
|Sr.No.||Particulars||BDEL Quarter Ended 30-09-04||BDEL Quarter Ended 30-09-03||BDEL Half Year Ended 30-09-04||BDEL Half Year Ended 30-09-03||BDEL Year Ended 31-03-04||Consolidated Half Year Ended 30-09-04||Consolidated Half Year Ended 30-09-03||Consolidated Year Ended 31-03-04|
|1.||Net Sales / Income from operations||11,587||8,856||21,566||17,067||35,486||21,581||17,050||35,462|
|5.||Freight,handling and servicing costs(net)||6,924||5,304||12,890||10,472||21,402||10,921||8,875||18,142|
|10.||Profit Before Tax||1,599||1,035||2,922||1,901||4,130||2,985||1,932||4,189|
|11.||Provision for Tax||594||371||1,083||682||1,482||1,109||682||1,486|
|12.||Profit After Tax||1,005||664||1,839||1,219||2,648||1,876||1,250||2,703|
|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||2,373|
|15.||E P S (In Rupees)||4.24||2.80||7.75||5.14||11.16||7.90||5.27||11.34|
|16.||Aggregate of Non-promoter shareholdings:|
|-Number of Shares||11,576,382||11,581,382||11,576,382||11,581,382||11,576,382||-||-||-|
|-Percentage of Shareholding||48.79||48.81||48.79||48.81||48.79||-||-||-|
- The Profit After Tax has recorded an increase of 51.4% in the second quarter as compared to the corresponding second quarter of the previous year and by 50.8% in the first half over the first half of the previous year.
- The Income from operations has recorded an increase of 30.8% in the second quarter as compared to the corresponding second quarter of the previous year and by 26.4 % in the first half over the first half of the previous year. Aviation Turbine Fuel price increase in India has been 43% since April'04, the fuel surcharge mechanism has been a successful mitigating measure to the impact of these spiralling costs.
- 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 )issued by the Institute of Chartered Accountants of India.
- The Consolidated Financial Results represent those of Blue Dart Express Limited and subsidiaries, Blue Dart Aviation Limited, Skyline Air Logistics Pvt. Ltd. and Concorde Air Logistics Pvt.Ltd. 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.On account of acquistions of Skyline Air Logistics Pvt.Ltd. and Concorde Air Logistics Pvt.Ltd. during the 1st quarter 2004, the previous year's / period's consolidated results may not be comparable.
- The Company did not have any investor complaints pending as on July 1,2004 and September 30,2004. There were eight investors' complaints received and disposed off during the quarter ended September 30, 2004.
- The prior period's figures have been regrouped and reclassified wherever necessary to conform to the current period's classification.
- In accordance with the requirements of clause 41 of the listing agreement with the Stock Exchanges, the Statutory Auditors had performed limited review for the first quarter ended June 30,2004 and have performed the audit for the half year ended September 30,2004. There have been no qualifications in the audit report issued for the above period.
- The above results were reviewed by the Audit Committee and were thereafter approved by the Board at its meeting held on October 19,2004.
By Order of the Board
For Blue Dart Express Limited
Date : October 19,2004
Place : Mumbai
For further information contact :
Dated : October 19, 2004