Blue Dart's Sales up 12%

Mumbai : October 22, 2002:

Blue Dart Express Limited, South Asia's largest integrated air express, courier and logistics company, declared its financial results for the half year ended September 30, 2002 at a Board Meeting held in the city today.

The Company's Income from operations for the half year ended September 30, 2002 has increased by 12% as compared to the corresponding first half of the previous year. Blue Dart has increased its profit after tax by 22% to Rs. 932 lacs for the first half as compared to the corresponding previous year.

Commenting on the results, Clyde Cooper, Managing Director, Blue Dart Express Limited said, "The continued growth of Blue Dart is testimony of the faith our customers have continued to repose in the quality of service we offer. During the last quarter we have increased our distribution reach in Maharashtra, Orissa and West Bengal, augmented our warehouse capacity at New Delhi and expanded our regional headquarters to our own larger, new premises at Bangalore."

Blue Dart, South Asia's leading courier and integrated air express package distribution company with dedicated aviation infrastructure, offers secure and reliable delivery of consignments to over 13,000 locations in the region. Through its sales alliance with world #1, DHL Worldwide Express, Blue Dart offers its customers the DHL advantage of global reach, unmatched cross-border specialisation and greater network flexibility. Blue Dart has been re-certified recently, as one of a handful of Indian companies, to the new global ISO 9001-2000 standards. The Blue Dart team drives marketplace leadership through its unique aviation system, cutting edge technology, innovation and value-added services to deliver unmatched standards of service quality to its customers.

BLUE DART EXPRESS LIMITED

Audited Financial Results for the Half Year ended September 30, 2002

(All figures are in Rs lacs)

 

  PARTICULARS B.D.E.L.QuarterEnded 30-09-02(Unaudited) B.D.E.L.30-09-01(Unaudited) B.D.E.L.Half YearEnded30-09-02(Audited) B.D.E.L.Half YearEnded30-09-01(Audited) B.D.E.L. Year Ended 31-03-02 (Audited) ConsolidatedHalf YearEnded 30-09-02(Audited) ConsolidatedYear Ended 31-03-02(Audited)
1. Net Sales/ Income from operations 8,008 7,237 15,799 14,096 28,667 15,780 28,648
2. Other Income 6 10 13 16 59 8 115
3. Total Income 8,014 7,247 15,812 14,112 28,726 15,788 28,763
4. Staff Cost 1,216 1,127 2,382 2,169 4,511 3,230 5,868
5. Freight, Handling and Servicing Costs 4,936 4,566 9,856 8,920 17,527 8,344 14,910
6. Other Expenses 739 665 1,398 1,257 2,653 1,652 3,200
7. Total Expenditure 6,891 6,358 13,636 12,346 24,691 13,226 23,978
8. Interest (net) 169 223 365 467 887 510 1,185
9. Depreciation 195 155 355 287 621 549 1,033
10. Profit Before Tax 759 511 1,456 1,012 2,527 1,503 2,567
11. Provision for Taxation 278 125 524 250 726 423 738
12. Profit After Tax 481 386 932 762 1,801 1,080 1,829
13. Paid-up Equity Share Capital (Face value Rs 10/- per share) 2,373 2,373 2,373 2,373 2,373 2,373 2,373
14. Reserves 9,411 8,204 9,411 8,204 8,479 9,112 8,032
15. E P S (in Rs.) 2.03 1.63 3.93 3.21 7.59 4.55 7.71
16. Aggregate of Non-Promoter shareholdings:              
-Number of Shares 11,610,138 11,610,138 11,610,138 11,610,138 11,610,138 - -
-Percentage of Shareholding 48.93 48.93 48.93 48.93 48.93 - -

Notes:

  1. The Consolidated Accounts represents those of Blue Dart Express Limited and Blue Dart Aviation Limited.
  2. The Company has recorded an overall growth of 12% on Income from operations over the first half of previous year
  3. The Company has consolidated its results based on the Accounting Standard on Consolidation of Financial Statements (AS-21) issued by the Institute of Chartered Accountants of India which became mandatory effective accounting year commencing on or after April 1, 2001.
  4. The Company has consolidated its results based on the Accounting Standard on Consolidation of Financial Statements (AS-21) issued by the Institute of Chartered Accountants of India which became mandatory effective accounting year commencing on or after April 1, 2001.
  5. The Company entered into a Sales Alliance agreement effective 1st October, 2002 with DHL Worldwide Express, to provide Blue Dart customers the advantages of DHL's global reach, unmatched cross-border specialisation, greater network flexibility and hi-tech infrastructure.
  6. Lloyd's Register Quality Assuarance (LRQA) has re-certified the Company countrywide with the new global standard ISO 9001:2000 for all Blue Dart's products and service offerings both within the region and to international destinations
  7. The prior period's figures have been regrouped and reclassified wherever necessary, to make it comparable with the current period figures.
  8. The above audited results were reviewed by the Audit Committee and were thereafter approved by the Board at its meeting held on 22nd October, 2002. There are no qualifications in the Audit reports issued for the above period.

By Order of the Board
For Blue Dart Express Limited

sd/-
(Clyde Cooper)
Managing Director

 

Date : 22nd October, 2002
Place : Mumbai

For further information contact :

marketing@bluedart.com
Dated : October 22, 2002

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