Blue Dart's Profitability Trend Continues

Blue Dart's Q3 sales up by 15 % -

Blue Dart Express Limited, India's largest integrated express company declared financial results for the third quarter ended December 31, 1998 at a board meeting held in the city today. Blue Dart sales for Q3 of the financial year 1998-99, have increased by 15% as compared to Q3 of the previous year and has maintained its earnings and growth rate, despite severe fog conditions in Delhi during the current quarter.

The company has shown a profit of Rs 201 lacs in Q3 of the current year as compared to the loss of Rs 243 lacs in Q3 of the previous year. The company's six months profit earnings upto September'98 was Rs 288 lacs and cumulatively for nine months stands at Rs 489 lacs. Blue Dart continues to maintain its profitable trend.

Commenting on the company's performance for the third consecutive quarter, Mr. Clyde Cooper, Managing Director, Blue Dart Express Limited said, " Blue Dart has achieved 15% growth despite the adverse weather conditions in the country. Blue Dart has maintained its profitable trend over the year and we hope to maintain this trend in the last quarter."

The company's wholly owned subsidiary Blue Dart Aviation Limited has achieved breakeven for the third quarter and continues its operations satisfactorily.

Crisil has recently reaffirmed it's A+ rating to the Non Convertible Debentures programme of Blue Dart Express Limited. The rating reflects Blue Dart's strong market position, improved operating efficiencies and the financial performance of the company in the first half of 1998.

Blue Dart Express Limited is India's leading express company with a 36% domestic market share. Blue Dart today offers a comprehensive range of services and products for both international and domestic shippers. Blue Dart's continuous commitment towards understanding the needs and concerns of the customer has enabled it to provide unmatched standards of service quality with 99.84 % reliability levels in the express industry. Over the years, Blue Dart has managed to expand this market rapidly which is reflected in its turnover growth over the years. Blue Dart is one of the largest Global Service Participants of FedEx, the world's largest express transportation company.

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Dated : January 22, 1999.