Blue Dart Sales at Rs 11,474.12 Million

Mumbai : February 01, 2011

Blue Dart Express Limited, South Asia's number one express air and integrated transportation, distribution and Logistics Company, today declared its annual financial results for the fourth quarter ended December 31, 2010, at its Board Meeting held in Mumbai.

The Company posted Rs 943.68 million profit after tax for the year ended December 31, 2010. Income from Operations for the quarter ended December 31, 2010 was Rs 3,188.83 million.

Anil Khanna, Managing Director, Blue Dart Express Limited said, "The 2010 results have been in sync with our outlined expectations for the year. Going forward, we are committed to remain the 'Express & Logistics Provider of Choice' for Indian industries. While continuing to be the `Trade Facilitators' in the country, we shall continue our focus on addressing specific needs of the customers delivering customized solutions."

"Blue Dart stands for Quality, Consistency, Reliability, Passion and Commitment. I thank every Blue Darter, associates, our customers and stakeholders for their support and being our brand ambassadors. Blue Dart has robust plans for India and we are delighted to serve in "Blue Dart country" with a business and human conscience to remain the customer's First Choice", he added.

During the year 2010, Blue Dart handled over 87 million domestic shipments, 0.74 million international shipments and over 3,38,990 tonnes of documents and parcels across the nation and 220 countries worldwide.

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 25,646 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. Blue Dart also received the Brand Leadership Award at CMO Asia Awards 2010, Award for Best HR Strategy in Line with Business and Award for Innovative Retention Strategy at the Asia's Best Employer Awards 2010, Singapore.

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

Audited Financial Results
for the Year Ended December 31, 2010

Statement of Assets and Liabilities
as per clause 41 (V) (h)
of the Listing Agreement as at December 31,2010

(All figures are in Rs.Lacs)

(All figures are in Rs.Lacs)

Sr.No. Particulars BDEL Quarter Ended 31-12-2010(Unaudited) BDEL Quarter Ended 31-12-2009 (Unaudited) BDEL Quarter Ended 31-12-2010 (Unaudited) BDEL Year Ended 31-12-2009 (Audited) BLUE DART EXPRESS LIMITED Consolidated Year Ended 31-12-2010 (Audited) Consolidated Year Ended 31-12-2009 (Audited)     As at 31-12-2010 (Audited) As at 31-12-2009 (Audited)
1.a. Net Sales / Income from Operations 31,888 25,345 114,741 90,523 114,989 90,754   Shareholders' Funds:    
b. Other Operating Income 15 7 85 217 85 217   (a) Capital 2,376
c. Total 31,903 25,352 114,826 90,740 115,074 90,971   (b)Reserves and Surplus 51,765 42,605
2. Expenditure               Loan funds - -
a. Freight, Handling and Servicing Costs (Net) 21,347 16,232 74,836 58,563 74,876 58,594   Deferred Tax Liability (Net) 1,817 1,856
b. Employee Costs) 3,224 14,889 13,476 15,013 13,593   Total 55,958 46,837
c. Depreciation 523 437 1,922 1,776 1,940 1,794   Fixed Assets 20,982 18,874
d. Other Expenditure 2,678 2,297 9,599 8,111 9,628 8,135   Investments 9,598 10,471
e. Total 28,461 22,190 101,246 81,926 101,457 82,116   Loan to Associates 11,245 -
3. Profit From Operations before Other Income, Interest & Exceptional Items 3,442 3,162 13,580 8,814 13,617 8,855   Current Assets,Loans And Advances    
4. Other Income 166 177 447 543 456 555   (a) Inventories 217 200
5. Profit before Interest & Exceptional Items 3,608 3,339 14,027 9,357 14,073 9,410   (b)Sundry Debtors 15,329 12,594
6. Interest   53 1 55 1 55   (c) Cash and Bank Balances 3,473 2,547
7. Profit after Interest but before Exceptional Items 3,608 3,286 14,026 9,302 14,072 9,355   (d) Other Current Assets - -
8. Exceptional Items - - - - - -   (e) Loans and Advance 8,398 12,949
9. Profit Before Tax 3,608 3,286 14,026 9,302 14,072 9,355   Less: Current Liabilities and Provisions    
10. Tax Expense 1,209 1,174 4,589 3,231 4,607 3,253   (a) Liabilities 12,145 9,816
11. Net Profit from Ordinary Activities after Tax 2,399 2,112 9,437 6,071 9,465 6,102   (b) Provisions 1,139 982
12. Extraordinary Items (net of tax) - - - - - - -   Net Current Assets 14,133 17,492
13. Share of Associate's Profit         5 17   Total 55,958 46,837
14. Net Profit for the period 2,399 2,112 9,437 6,071 9,470 6,119
15. Paid-up Equity Share Capital ( Face value Rs 10/- per share) 2,373 2,373 2,373 2,373 2,373 2,373
16. Reserves excluding Revaluation Reserve   51,765 42,605 52,129 42,936
17. Earnings Per Share(In Rupees)- Basic and Diluted 10.11 8.90 39.77 25.58 39.91 25.79
18. Public Shareholding:            
  -Number of Shares 4,500,047 4,500,047 4,500,047 4,500,047    
  -Percentage of Shareholding 18.97 18.97 18.97 18.97    
19. 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    
  -Percentage of Shares(as a % of the total shareholding of promoter and promoter group) 100 100 100 100    
  -Percentage of Shares(as a % of the total shareholding of promoter and promoter group) 100 100 100 100    
  -Percentage of Shares(as a % of the total capital of the company) 81.03 81.03 81.03 81.03    

Notes :

  1. The Income from operations (inclusive of fuel surcharge) has recorded an increase of 26.75% for the year ended December 31, 2010 as compared to the corresponding year ended December 31,2009.
  2. The Board of Directors have recommended a dividend of 10% for the year ended December 31, 2010.
  3. 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.
  4. The Consolidated Financial results represent those of Blue Dart Express Limited and its Wholly Owned Subsidiary Company, Concorde Air Logistics Limited. The Company has consolidated its results based on the Accounting Standard on Consolidation of Financial Statements (AS-21) as notified under section 211(3C) of the Companies Act, 1956. The 49% holding in Blue Dart Aviation Limited,its Associate Company has been consolidated in accordance with the Accounting Standard on Accounting for Investments in Associates in Consolidated Financial Statements (AS-23) as notified under section 211(3C) of the Companies Act, 1956.
  5. The Company did not have any investor complaint pending as on Decembr 31, 2010. There were three investor complaints received and disposed off during the quarter ended December 31,2010.
  6. The prior period's figures have been regrouped and reclassified wherever necessary to conform to current period's classification.
  7. The above results were reviewed by the Audit Committee and were thereafter approved by the Board at its meeting held on February 1, 2011. There are no qualifications in the Auditors' Report issued for the financial year ended December 31, 2010.

By Order of the Board
For Blue Dart Express Limited

 

Sd/-

Anil Khanna
(Managing Director)

 

Date :February 1,2011
Place : Mumbai

For further information contact :

marketing@bluedart.com
Dated :February 1,2011

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