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Blue Dart announces Q2 results, Sales at ₹864.42 crores

Posted On: 2020-10-29 06:47:11


Blue Dart Express Limited, South Asia's premier express air and integrated transportation & distribution company, declared its financial results today for the quarter July - September 2020, at the Board Meeting held in Mumbai.

The company posted ₹41.39 crores profit after tax (previous year ₹13.99 crores) for the quarter ended September 30, 2020. Revenue from operations for the quarter ended September 30, 2020 stood at ₹864.42 crores.

The Covid19 pandemic posed a challenging time for all. Blue Dart not only weathered these challenges successfully, but also continued to ensure unmatched service delivery to its customers. To appreciate the hard work put in by its employees, Blue Dart being part of the DPDHL Group which strongly believes in a People First Policy, paid a one-time ex-gratia of ₹26,238 (Euro300) to each Blue Darter (excluding Senior Management) in September 2020. This one time ex-gratia had an impact of ₹34.17 crores during the quarter.

Balfour Manuel, Managing Director, Blue Dart said, "Macroeconomic indicators as well as the opening up of the economy signals a greener future for the nation. We see our customers' businesses coming back on track with an exciting festive season around the corner for which we are fully prepared. We are cautiously optimistic for what the future holds for the economy as a second wave of pandemic is expected to hit the Country in the winter season. We have also consolidated our position over this quarter for our key products. As pharmaceutical organizations and the Government of India work in tandem to roll out a COVID-19 vaccine, Blue Dart is gearing up to provide logistics support when a prospective vaccine candidate does arrive. Blue Dart's Resilience, Responsiveness, Safe & Reliable network continues to be the reason we remain the Government's as well as every citizen's trusted express logistics provider. Our employees as well as our market-leading technology continue to remain our primary differentiators as a premium brand."

Balfour Manuel, Managing Director, Blue Dart added that "Blue Dart continued to provide unrelenting support to customers across industry verticals through the pandemic. These efforts were richly appreciated by our customers at various forums. Blue Dart has navigated through the crisis well. Performance during the quarter has been supported by better revenue realization and cost efficiencies initiatives."

Balfour Manuel, Managing Director, Blue Dart further added, "Automation and Technology will continue to be the pivot for the business and Blue Dart will continue investing in these capabilities. Our investments into the Brand, People, Digitization & Infrastructure will take a new trajectory as we build our Brand for the future."

Blue Dart remains India's most innovative and awarded express delivery company. Blue Dart was recently certified as a Great Place to Work by Great Place to Work® Institute India for the 10th year and recognized as the Most Trusted Brand 2020 for the 14th year in a row by Readers Digest. Blue Dart was also ranked amongst the 50 Best Workplaces in India - 2020 by Great Place to Work® Institute and The Economic Times, voted a Superbrand for the 13th year, recognised as a Company with Great People Managers by Great Manager Institute and Forbes, awarded with ET NOW presents Stars of the Industry Awards 'Brand Leadership Award' for Excellence In Supply Chain & Logistics. Blue Dart received the prestigious Golden Peacock Award at IOD India's '4th Annual Global Convention on Corporate Ethics & Risk Management' and recognized by Green Freight Asia (GFA) for its commitment to adopting Green Road Freight Practices as a Carrier in 2019.

Shares of BLUE DART EXPRESS LTD. was last trading in BSE at Rs.3248.5 as compared to the previous close of Rs. 3188.1. The total number of shares traded during the day was 638 in over 244 trades.

The stock hit an intraday high of Rs. 3270 and intraday low of 3195.6. The net turnover during the day was Rs. 2065759.


Source: Equity Bulls

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