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Blue Dart Announces Second Quarter Results, Sales at ₹ 1,324 Crores
Blue Dart Express Limited, South Asia's premier express air, integrated transportation, and distribution logistics company, declared its financial results today for the quarter ended September 30, 2023, at its Board Meeting held in Mumbai.
The company posted ₹ 71 crores profit after tax for the quarter ended September 30, 2023. Revenue from operations for the quarter ended September 30, 2023 stood at ₹ 1,324 crores.
Commenting on the company's performance, Balfour Manuel, Managing Director, Blue Dart Express Ltd., stated, "Our ability to maintain resilience has once again been demonstrated, thanks to our robust air and ground infrastructure, comprehensive solution portfolio, and extensive reach. Even amid sluggish global economic growth, we've not only exceeded pre-pandemic revenue but also solidified our position as the Provider of Choice for our customers. Understanding their needs remains our priority, driving our pursuit of operational excellence and expanding our customer base across India.”
Speaking about the business outlook, he says, “Even though we are keeping a close eye on our costs in the current business environment, our strengthened earnings power puts us in a position to continue investing significantly in future growth. Through these initiatives, we are strategically positioned for sustained growth and remain committed to leveraging technology and exploring new opportunities.”
The Company continues to invest significantly towards enhancing capacity, digitalisation and automation of processes. The two B737-800 aircraft procured during the year 2022-23 amounting to ₹ 400 crores got inducted during the previous quarter has supported capacity requirements during current.
India's economic recovery from geopolitical uncertainties in the world is progressing well, and this trajectory is set to further strengthen with the recent developments in India's logistics industry. Blue Dart’s presence in Tier I and II markets across India has improved. This move has also accelerated the company's reach by providing strategic, scalable solutions to large customers, enabling economies of scale with end-to-end service offerings. On August 15th, the company announced the inauguration of 15 company-owned retail stores, 15 franchise collection centres, 15 express selling agents, and 15 regional service provider franchisees.
Exceptional Service Quality remains one of the major pivots, alongside automation and technology, providing customers with a one-stop, hassle-free solution to all their logistics requirements. In its journey to delight customers, the company carried 918 lakh shipments weighing 307,480 metric tonnes during the Quarter ending September 30, 2023.
Focusing on its mission of Excellence, Simply Delivered, the organization has set in motion several technological initiatives that lead the company towards its Limitless Growth Strategy. During the quarter, Blue Dart was recognized as the Best Cargo Service Provider at the Indian Cargo Awards 2023.
The company also received UNFCCC Certification for its Climate Neutrality Efforts as a step towards its sustainability roadmap. In order to sustainably improve productivity, additional funds were invested in automation and digitalization initiatives. The company is working on sustainable solutions to reduce carbon emissions, including deploying electric vehicles, reducing paper consumption, green facilities, etc. To date, the company has planted 6,66,000+ Trees to offset its carbon footprint. As part of its ESG journey, Blue Dart is dedicated to upholding the highest standards of compliance.
The organization has set a precedent well within its second quarter of the financial year 2023-24 by continuing to be a Provider of Choice, an Employer of Choice, and an Investment of Choice for all its stakeholders.
About Blue Dart:
Blue Dart Express Ltd., South Asia's premier express air, integrated transportation & distribution logistics company, offers secure and reliable delivery of consignments to over 55,000+ locations in India. Blue Dart is a provider of choice for its stakeholders due to its customer centric approach and aims to further strengthen this partnership. 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’s Diversity and Inclusion initiatives have also led to it being recognized as one of India’s ‘Best Workplaces for Women’ in 2021 and ‘Best Organizations for Women’ in 2022 by the Economic Times.
Blue Dart fulfils its social responsibility of climate protection (GoGreen), disaster management (GoHelp) and education (GoTeach) through its GoPrograms.
For financial results Click here
Dated : October 27, 2023.
