Blue Dart Express posts Q4 net profit of INR 891 million
Blue Dart Express reported a consolidated net profit of INR 891 million for the fourth quarter and INR 963 million net profit for the year ended March 31, 2021.
Blue Dart Express, express air and integrated transportation and distribution company, reported a consolidated net profit of INR 891 million for the fourth quarter and INR 963 million net profit for the year ended March 31, 2021.
The profit for the year is, after absorbing the impact of special Covid-19 ex-gratia (INR 342 million) paid to employees in September 2020 and accelerated depreciation of IT servers (INR 240 million).The margin improvement is backed up by better realisation and cost efficiencies during the year. Revenue from operations for the quarter ended March 31, 2021 stood at INR 9,662 million and INR 32,797 million for the year ended March 31, 2021.
In a highly volatile, uncertain, complex and ambiguous environment, Blue Dart adapted itself to the situation and continued to be a reliable, resilient and responsive organization for all its stakeholders. While the period under review has been challenging due to the pandemic, Blue Dart grew its revenues for the year, its transit times, technology interventions e.g. contactless delivery, robust and agile infrastructure, and above all its people enhanced the ability to deliver as the nation’s trade facilitator.
Balfour Manuel, managing director, Blue Dart says, “We look back with pride on our performance in the financial year delivered with the support of all our stakeholders! It has been a challenge to navigate through the pandemic and the lockdowns, however, our single minded customer centricity combined with tenacity and the organization’s ability to perform has helped us during this time. All our facilities/people/aircraft/vehicles operated every single day through the pandemic, enabling the nation in its fight against the contagion delivering PPE kits, ventilators, vaccines, oxygen concentrators, pharmaceutical, medical equipment etc. We are cautiously optimistic about the new financial year on the background of the current wave II and the impending wave III of the pandemic.
He further added, “In the year that saw disruption across various elements, we had purposeful innovations to keep our colleagues and customers healthy and safe, we worked closely with the government on the Lifeline Udan Initiative. A stronger brand messaging was amplified with our advertising on television.
Speaking on the path ahead, Balfour says, “Going forward, our focus will continue to remain on consistently upgrading our infrastructure and digitized solutions to ensure that we optimise the man- tech combination. We are also enthused by the Governments initiatives aimed towards building a non- fragmented logistics sector.”
Under the DPDHL Group credo of ‘Connecting People, Improving Lives’ the group had set a target of 30 percent carbon efficiency improvement over the base of 2007 by 2020. Blue Dart has surpassed the target by achieving an efficiency improvement of 31 percent in 2019 and an efficiency of 36 percent in 2020. Net zero emission by the year 2050 is the new environment target and ESG compliance is the focal point. We are also committed to inclusivity and diversity to further strengthen our culture at Blue Dart.