Blue Dart announces Q1 financial results with sales clocking in at Rs 8,648 million
Blue Dart Express Limited declared its financial results for the quarter ended June 2021, at its Board Meeting held in Mumbai. The company posted Rs 294 million profit after tax (previous year corresponding quarter loss of Rs1,279 million) for the quarter ended June 30, 2021; revenue from operations for the quarter ended June 30, 2021 stood at Rs 8,648 million.
Performance Highlights: Q1 FY2022 vs. Q1 FY2021 STANDALONE
- Revenue from operations of Rs 8,648 million, growth of 109% YOY
- EBITDA of Rs 892 million compared to Rs -1160 million in Q1 FY2021
- EBITDA margin at 10.24% compared to -27.86% in Q1 FY2021
- PAT of Rs 294 million compared to Rs -1279 million in Q1 FY2021
- EPS at Rs 12.38 as compared to Rs -53.92 in Q1 FY2021
Performance Highlights: Q1 FY2022 vs. Q1 FY2021 CONSOLIDATED
- Revenue from operations of Rs 8,662 million, growth of 108% YOY
- EBITDA of Rs 1,657 million compared to Rs -399 million in Q1 FY2021
- EBITDA margin at 18.98% compared to -9.52% in Q1 FY2021
- PAT of Rs 313 million compared to Rs -1,258 million in Q1 FY2021
- EPS at Rs 13.18 as compared to Rs -53.04 in Q1 FY2021
Balfour Manuel, managing director, Blue Dart says,“I am pleased to announce that the Blue Dart brand continues to stand out and delivered good results during the first quarter of the new financial year. Against the backdrop of the second wave of the pandemic and as we battle several new variants, Blue Dart’s business continues to remain agile and adaptive to the changing external environment. Our results mirror a recovering economy that is increasingly trusting the digitalization process and a sustainable eCommerce boom - we benefit strongly from both.”
Commenting about the sustainability initiatives at Blue Dart, he says,“Under our credo, Connecting People, Improving Lives, the organization has set in motion a number of technological initiatives that will drive green logistics and ESG which is an integral part of Strategy 2025. Leveraging its digital footprint, the organization has reduced its dependence on paper and has also been consistently planting 1,00,000+ trees each year. The organization has set precedent well within its first quarter of the financial year 2021-22 by continuing to be a Provider of Choice, Employer of Choice and Investment of Choice for all its stakeholders.”
Blue Dart was better prepared to mitigate the pandemic impact on the business and operated every single day. As a result, the company could achieve robust Revenue from Operations of Rs 8,648 million during the quarter under review, a resilient financial performance despite very challenging market conditions. The company was able to successfully implement GPI with its customers.
The Company achieved EBITDA of Rs 892 million with EBITDA margins of 10.24 percent. Due to the second wave of the pandemic and restrictions in movement, EBITDA margins was impacted on sequential basis primarily due to lower utilization levels and increase in employee costs due to merit increase. Volatility in foreign exchange rates specifically in Euro during the quarter also had impact on profitability due to ROU liability being M to M under IND AS 116. Profit after Tax stood at Rs 294 million with a margin of 3.37 percent.