Blue Dart Profit at Rs 256.17 Million

Mumbai : July 27, 2010

Blue Dart Express Limited, South Asia's premier No.1 express air and integrated transportation, distribution and logistics company, today declared its financial results for the second quarter and half year ended June 30, 2010 at its Board Meeting held in Mumbai.

The company posted Rs 256.17 Million profit after tax for the quarter ended June 30, 2010 and Rs 493.97 Million for the half year ended June 30, 2010. Income from operations stood at Rs 2,772.37 Million for the quarter ended June 30, 2010 and Rs 5,348.43 Million for the half year ended June 30, 2010, up by 28.52% from Rs 4,161.64 Million for the half year ended June 30, 2009.

Anil Khanna, Managing Director, Blue Dart Express Limited said, "Blue Dart has, since inception, done things differently to embed an infallible trust in the brand and deliver on its promise. Our aim has been to continuously deliver the highest levels of service excellence and to this end our Quality initiatives - First Choice & Net Promoter Approach (NPA) have played a consistent and pivotal role. Added to this, in our mission to provide complete end-to-end solutions with enhanced focus on specific verticals, we have launched innovative and customized products to meet the explicit and implicit customer needs & expectations. All our initiatives like Key Account Management, new product developments etc are designed at strengthening and enhancing Blue Dart's premier position as the leading air and ground express distribution service provider in India. Blue Dart remains committed to complement and enhance the business prospects of the country, especially in Tier 2 & Tier 3 cities, where Blue Dart sees great potential and opportunities unfolding."

Anil, further added, "As a company, we are committed to remaining a customer-centric and employee-focused organization, agile towards continuous innovation, people-friendly policies / culture and always deliver beyond the expectations of our stakeholders and employees."

About Blue Dart:

Blue Dart, South Asia's premier number one express air and integrated transportation, distribution and Logistics Company, offers secure and reliable delivery of consignments to over 25,498 locations in India. As part of the DHL Group (DHL Express, DHL Global Forwarding & DHL Supply Chain), Blue Dart accesses the largest and most comprehensive express and logistics network worldwide, covering over 220 countries and offers an entire spectrum of distribution services including air express, freight forwarding supply chain solutions and customs clearance.

Blue Dart received the 'Superbrand' status 5 times in a row and the Reader's Digest Most Trusted Brand Gold Award, 5 years in a row. It has been listed as one of the Forbes 'Best under a Billion' companies in Asia. Blue Dart received the Amity HR Excellence Awards 3 times consecutively and was listed 2 times in the Dun & Bradstreet top 500 companies of India. Blue Dart has been conferred the Asia Brand Congress - Brand Leadership Award in 2008, the World Brand Congress - Brand Leadership Award and the Best Service Provider of the Year in 2009. In 2010, amongst a host of awards, Blue Dart was conferred with the Organization with Innovative HR Practices 2009-10 and Best Employer Award on Employee Retention at the Global HR Excellence Awards, WHRDC Meet 2010. Recently, Blue Dart was honoured with the 22nd CFBP Jamnalal Bajaj Fair Business Practices Award - 2010 in the category of Service Enterprises (Medium). Blue Dart has also been recognized as one of India's Best Companies to Work For 2010 in a study by Economic Times and Great Place to Workï¾® Institute, India.

The Blue Dart team drives market leadership through its motivated people force, 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 numerous awards and recognitions from customers for exhibiting reliability, superior brand experience and sustainability. Blue Dart accepts its social responsibility by supporting climate protection, disaster management and education. Apart from various other initiatives in Sustainability, in an effort to reducing its carbon footprint, Blue Dart registered an improvement on CO2 efficiency by 10% year-on-year.

BLUE DART EXPRESS LIMITED

Unaudited Financial Results for the Quarter and Half Year Ended June 30, 2010 Statement of Assets and Liabilities as per clause 41 (V) (h) of the Listing Agreement as at June 30,2010

(All figures are in Rs.Lacs)

Sr.No. Particulars Quarter Ended 30-06-2010 (Unaudited) Quarter Ended 30-06-2009 (Unaudited) Half Year Ended 30-06-2010 (Unaudited) Half Year Ended 30-06-2009 (Unaudited) Year Ended 31-12-2009 (Audited)     As at 30-06-2010 (Unaudited) As at 30-06-2009 (Unaudited) As at 31-12-2009 (Audited)
1.a. Net Sales / Income from Operations 27,724 20,710 53,484 41,616 90,523   Shareholders' Funds:      
b. Other Operating Income 7 116 17 169 217   (a) Capital 2,376 2,376 2,376
c. Total 27,731 20,826 53,501 41,785 90,740   (b)Reserves and Surplus 47,544 39,123 42,605
2. Expenditure             Loan Funds - - -
a. Freight, Handling and Servicing Costs 17,667 13,743 34,097 27,641 58,563   Deferred Tax Liability (Net) 1,821 1,802 1,856
b. Employee Costs 3,639 3,085 6,787 6,187 13,476   Total 51,741 43,301 46,837
c. Depreciation 464 465 931 902 1,776   Fixed Assets 19,967 18,236 18,874
d. Other Expenditure 2,369 1,919 4,552 3,790 8,111   Investments 8,129 9,887 10,469
e. Total 24,139 19,212 46,367 38,520 81,926   Current Assets,Loans And Advances      
3. Profit From Operations before Other Income, Interest & Exceptional Items 3,592 1,614 7,134 3,265 8,814   (a)Inventories 188 233 200
4. Other Income 92 119 176 258 543   (b) Sundry Debtors 13,571 10,753 12,594
5. Profit before Interest & Exceptional Items 3,684 1,733 7,310 3,523 9,357   (c)Cash and Bank Balances 3,053 1,855 2,547
6. Interest         55   (d) Other Current assets - - -
7. Profit after Interest but before Exceptional Items 3,684 1,733 7,310 3,523 9,302   (e) Loans and Advances 17,863 10,605 12,951
8. Exceptional Items - - - - -   Less: Current Liabilities and Provisions      
9. Profit Before Tax 3,684 1,733 7,310 3,523 9,302   (a)Liabilities 10,361 7,261 9,816
10. Tax Expense 1,122 590 2,370 1,211 3,231   (b) Provisions 669 1,007 982
11. Net Profit from Ordinary Activities after Tax 2,562 1,143 4,940 2,312 6,071   Net Current Assets 23,645 15,178 17,494
12. Extraordinary Items (net of tax) - - - - -   Total 51,741 43,301 46,837
13. Net Profit for the period 2,562 1,143 4,940 2,312 6,071          
14. Paid-up Equity Share Capital ( Face value Rs 10/- per share) 2,373 2,373 2,373 2,373 2,373
15. Reserves excluding Revaluation Reserve as per Balance Sheet of previous Accounting year         42,605
16. Earnings Per Share(In Rupees)- Basic and Diluted 10.80 4.82 20.82 9.74 25.58
17. Public shareholding:          
  -Number of Shares 4,500,047 4,500,047 4,500,047 4,500,047 4,500,047
  -Percentage of Shareholding 18.97 18.97 18.97 18.97 18.97
18. Promoters and promoter group shareholding          
a. Pledged/Encumbered          
  -Number of Shares - - - - -
  -Percentage of Shares(as a % of the total shareholding of promoter and promoter group) - - - - -
  -Percentage of Shares(as a % of the total capital of the company) - - - - -
b. Non-Encumbered          
  -Number of Shares 19,227,887 19,227,887 19,227,887 19,227,887 19,227,887
  -Percentage of Shares(as a % of the total shareholding of promoter and promoter group) 100 100 100 100 100
  -Percentage of Shares(as a % of the total capital of the company) 81.03 81.03 81.03 81.03 81.03

 

Notes :

  1. The Income from operations (inclusive of fuel surcharge) has recorded an increase of 33.87% for the quarter ended June 30, 2010 as compared to the corresponding quarter of the previous year.
  2. The Company is primarily engaged in a single segment business of integrated air and ground transportation and distribution of time sensitive packages in India 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) as notified under Section 211(3C) of the Companies Act, 1956.
  3. The Company did not have any investor complaint pending as on June 30, 2010. There were two investor complaints received and disposed off during the quarter ended June 30, 2010.
  4. The prior period's figures have been regrouped and reclassified wherever necessary to conform to current period's classification.
  5. In accordance with the requirements of Clause 41 of the Listing Agreement with the Stock Exchanges, the Statutory Auditors have performed a limited review of the Company's financial results for the quarter and half year ended June 30, 2010 as well as of the Statement of Assets and Liabilities as at June 30,2010. There are no qualifications in the limited review report issued for the above period.
  6. The above results were reviewed by the Audit Committee and were thereafter approved by the Board at its meeting held on July 27, 2010.

By Order of the Board
For Blue Dart Express Limited

Sd/-
Anil Khanna
(Managing Director)

Date :July 27, 2010
Place : Mumbai

For further information contact :
marketing@bluedart.com
Dated : July 27, 2010

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