Blue Dart Express Limited, South Asia's premier express air and integrated transportation, distribution and logistics Company, today declared its financial results for the quarter ended December 31, 2019, at its Board Meeting held in Mumbai.
Revenue from operations for the quarter ended December 31, 2019 stood at Rs. 855.64 crores. The company posted Rs. 24.34 crores profit before tax & exceptional item for the quarter ended December 31, 2019. Net loss for the quarter stood at Rs. 33.08 crores after accounting for Rs. 64.11 crores of exceptional items.
The Company had undertaken restructuring / right-sizing exercise during the current quarter with an intention to improve efficiency and create long term value for stakeholders. This has impacted the profitability for the quarter ended December 31, 2019.
Effective April 01, 2019, Blue Dart has adopted the Ind AS 116 new accounting standard due to which there is higher impact on profit as these are long term leases related to air infrastructure.
Balfour Manuel, Managing Director, Blue Dart said "While GDP growth has been revised from 6.1% to 5% for 2019-20, with our clear focus on service quality and cost efficiencies we are mitigating the challenging situation reasonably well. In our endeavor to build better future for Blue Dart, the Company has undertaken organization right sizing exercise for long term value creation for stakeholders. Our customers will always be at the center of our business and hence we will continue to invest to enhance our infrastructure and technological capabilities to stay relevant to their needs.
He adds, "With our customer focused strategy, we remain committed to serving Blue Dart country and sustaining leadership in air and ground express industry in India. We are thankful to our stakeholders, shareholders, customers, partners and our highly passionate team of Blue Darters who drive us to strive for excellence every day".
The Company has received the 'Golden Peacock Award for Corporate Ethics - 2019' at "IOD India's "4th annual Global Convention on CORPORATE ETHICS & RISK MANAGEMENT", held on 16 January, 2020 at Singapore organised by the by The Institute of Directors.
Blue Dart remains one of the most awarded, admired and best managed companies in India. It was recognized as the No.1 Best Multinational Workplaces in Asia 2019 by Great Place to Work® Institute (GPTW) Asia for the third consecutive year, amongst the Top 50 of India's Best Companies to Work For - 2019 by Great Place to Work® Institute (GPTW) India for the 9th year, awarded a Business Super brand for the 12th consecutive time, recognized a Reader's Digest Most Trusted Brand for the 13th consecutive year and as a Company with Great People Managers by Great Manager Institute and Forbes.
Shares of BLUE DART EXPRESS LTD. was last trading in BSE at Rs.2640 as compared to the previous close of Rs. 2653.05. The total number of shares traded during the day was 1318 in over 370 trades.
The stock hit an intraday high of Rs. 2701.1 and intraday low of 2635. The net turnover during the day was Rs. 3523751.