Blue Dart Sales at ₹855.64 crores for the Quarter October – December 2019
Blue Dart Express Limited, South Asia's premier express air and integrated transportation, distribution and logistics Company, today declared its financial results for the quarter ended December 31, 2019, at its Board Meeting held in Mumbai.
Revenue from operations for the quarter ended December 31, 2019 stood at ₹855.64 crores. The company posted ₹24.34 crores profit before tax & exceptional item for the quarter ended December 31, 2019. Net loss for the quarter stood at ₹33.08 crores after accounting for ₹64.11 crores of exceptional items.
The Company had undertaken restructuring/right-sizing exercise during the current quarter with an intention to improve efficiency and create long term value for stakeholders. This has impacted the profitability for the quarter ended December 31, 2019.
Effective April 01, 2019, Blue Dart has adopted the Ind AS 116 new accounting standard due to which there is higher impact on profit as these are long term leases related to air infrastructure.
Balfour Manuel, Managing Director, Blue Dart said “While GDP growth has been revised from 6.1% to 5% for 2019-20, with our clear focus on service quality and cost efficiencies we are mitigating the challenging situation reasonably well. In our endeavor to build better future for Blue Dart, the Company has undertaken organization right sizing exercise for long term value creation for stakeholders. Our customers will always be at the center of our business and hence we will continue to invest to enhance our infrastructure and technological capabilities to stay relevant to their needs.
He adds, “With our customer focused strategy, we remain committed to serving Blue Dart country and sustaining leadership in air and ground express industry in India. We are thankful to our stakeholders, shareholders, customers, partners and our highly passionate team of Blue Darters who drive us to strive for excellence every day”.
The Company has received the ‘Golden Peacock Award for Corporate Ethics – 2019’ at "IOD India's "4th annual Global Convention on CORPORATE ETHICS & RISK MANAGEMENT", held on 16 January, 2020 at Singapore organised by the by The Institute of Directors.
Blue Dart remains one of the most awarded, admired and best managed companies in India. It was recognized as the No.1 Best Multinational Workplaces in Asia 2019 by Great Place to Work® Institute (GPTW) Asia for the third consecutive year, amongst the Top 50 of India’s Best Companies to Work For – 2019 by Great Place to Work® Institute (GPTW) India for the 9th year, awarded a Business Super brand for the 12th consecutive time, recognized a Reader’s Digest Most Trusted Brand for the 13th consecutive year and as a Company with Great People Managers by Great Manager Institute and Forbes.
About Blue Dart:
Blue Dart Express Ltd., South Asia's premier express air and integrated transportation & distribution company, offers secure and reliable delivery of consignments to over 35,000 locations in India. As part of Deutsche Post DHL Group’s DHL eCommerce Solutions division, Blue Dart accesses the largest and most comprehensive express and logistics network worldwide, covering over 220 countries and territories, and offers an entire spectrum of distribution services including air express, freight forwarding, supply chain solutions, customs clearance etc.
The Blue Dart team drives market leadership through its motivated people, dedicated air and ground capacity, cutting-edge technology, wide range of innovative, vertical specific products and value-added services to deliver unmatched standards of service quality to its customers. Blue Dart's market leadership is further validated by its position as the nation’s most innovative and awarded express logistics company for exhibiting reliability, superior brand experience and sustainability which include recognition as one of ‘India's Best Companies to Work For’ by The Great Place to Work® Institute, India, ranked amongst ‘Best Multinational Workplaces in Asia’ by The Great Place to Work® Institute, Asia, voted a ‘Super brand’ and ‘Reader’s Digest Most Trusted Brand’, listed as one of Fortune 500’s ‘India's Largest Corporations’ and Forbes ‘India's Super 50 Companies’ to name a few.
Blue Dart fulfils its social responsibility of climate protection (GoGreen), disaster management (GoHelp) and education (GoTeach) through programs
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Dated : 17th January 2020