Blue Dart Express Q3 results: Posts net profit of Rs.95 cr

News Clip: Economic Times

28th January, 2021

Logistics major Blue Dart Express on Thursday reported a net profit of Rs. 95.32 crore for the third quarter ended December 2020. The company had registered a net loss of Rs. 31.92 crore in the corresponding quarter last fiscal, it said in a BSE filing.

Revenue from operations for the third quarter stood at Rs. 1,034.92 crore, the company said in a statement.

Blue Dart has outperformed in the quarter ended December 31, 2020, with an increase in sales by 21 per cent. The stellar performance for the quarter is backed by right yield management and aggressive cost efficiencies delivered through high service delivery by passionate and pandemic warriors frontline Blue Darters.

"Sectors such as E-commerce, Pharmaceuticals, Consumer electronics etc. saw rapid scaling owing to a shift in consumer buying behavior & consumption patterns," its Managing Director Balfour Manuel said.

He said the organization has exceeded expectations of customers with a focus on service quality.

"We are thrilled to announce that Blue Dart has surmounted all challenges to record an increase in sales. We also acquired two Boeing 757-200 aircraft to stabilize our returns and derive economic value for the long term," Manuel added.

Blue Dart's role as the trade facilitator to the nation will always continue. Blue Dart will continue to support the vaccine distribution across India to ensure a faster adieu to the 'Age of the Virus'.

During the pandemic, all collections from customers and payments to partners have moved to a 100 per cent digitized mode and the company pioneered the Contact Less Delivery (CLD) to ensure the safety of customers, OTP based deliveries, Customer Mobile App, Digital Sorry Card etc., Manuel said.