Blue Dart Sales at 5,172 Crore, up by 17.3%

Blue Dart Express Limited, South Asia's premier express air, integrated transportation and distribution logistics Company, declared its financial results today for the quarter and year ended March 31, 2023, at its Board Meeting held in Mumbai.

Revenue from operations for the year ended March 31, 2023 stood at ₹ 5,172 crore with a growth of 17.3% over the previous year and posted ₹ 366 crore profit after tax for the year ended March 31, 2023 (previous year, profit after tax was ₹ 376 crore). Revenue from operations for the quarter ended March 31, 2023 is at ₹ 1,217 crore and profit after tax is ₹ 70.33 crore.

Performance Highlights: FY22-23 vs. FY21-22

Consolidated EBITDA for the year ended March 31, 2023 stood at ₹ 969.53 crore and profit after tax at ₹ 370.53 crore. Consolidated EBITDA for the quarter ended March 31, 2023 is at ₹ 207.90 crore and profit after tax is ₹ 69.44 crore.

The fiscal year was one of revival, with moderate growth witnessed in the last quarter. COVID-19 limitations were lifted, and most countries opened their international borders. The global economic recovery from the epidemic continued, despite many nations experiencing continued inflation caused partly by geopolitical conflicts. In India, in recognition of the enormous contribution of the logistics industry to the national economy and the growing need in Tier II and III cities, the Government of India accelerated its efforts to develop logistics infrastructure in the country on the dual engines of the PM Gati Shakti plan and the National Logistic Policy. During the period FY 2022–23, Blue Dart, with its futuristic strategy, established its network penetration in the rest of Bharat with the opening of 55+ new company-owned retail stores, strengthening its ability to deliver as the nation's trade facilitator. Blue Dart’s exceptional service quality remains one of its major pivots, alongside automation and technology, towards providing customers with a seamless one-stop solution for all their logistics requirements. We carried 32.82 crore shipments weighing 11,54,000  metric tonnes in the year under review.

Balfour Manuel, Managing Director, Blue Dart, says, "We continue to maintain our focus on operational improvements and productivity enhancements, which led to growth. We closed FY’23 with a strong potential for the future by developing creative solutions for our customers and expanding our fleet with two Boeing 737 aircraft to serve the length and breadth of the country. We will benefit from a consolidated market and deepened relationships with our existing stakeholders.”

“As we enter FY24, we see an increasing need for businesses to stay agile by leveraging next-generation technologies. We are committed to assisting our customers in remaining competitively dominant and relevant in an era of rapidly changing market conditions by assisting them in adapting to leaner and more sustainable logistics solutions. This prudential and operational excellence approach prepares us well for all business uncertainties", he added.

As part of the DPDHL Group, Blue Dart is committed to contributing to the Group’s mission of reducing our carbon emissions to below 29 million tonnes by 2030 along with continued business growth. Blue Dart was able to reduce its carbon emissions by 42% from the baseline of 2007 and plans to become net zero by 2050. Blue Dart, in collaboration with DPDHL Group, provides India's first end-to-end GoGreen Carbon Neutral Service (CNS) in both international and domestic markets. During the fiscal year under review, Blue Dart maintained its specialised Carbon Neutral Service, which provided customers with an environmentally responsible shipping option to offset the carbon emissions produced by the transportation of their shipments. By the year 2030, the DPDHL Group has committed to reducing its absolute direct emissions from the use of fuels and its indirect emissions from purchased energy by 42%. Additionally, reducing the emissions from fuel, energy related activities, upstream transport along with sales and business travel by 25%.

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 55,000+ 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 ‘Superbrand’ 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.

For financial results Click here

marketing@bluedart.com

Dated : May 05, 2023.