Blue Dart Express profit up

Our Corporate Bureau
15 October 2003

Chennai: Blue Dart Express, an integrated air express, courier and logistics company, has recorded a net profit of Rs 6.64 crore in the second quarter with an increase of 38 per cent over the corresponding quarter in the previous year.

The company's total income for the period under review stood at Rs.88.61 crore, showing an increase of Rs 8.47 crore over the corresponding quarter in the previous year.

The total expenditure for the second quarter stood at Rs 74.93 crore. The net interest has gone down by Rs 68 lakh to Rs 94 lakh while depreciation has gone up by Rs 44 lakh to Rs 2.39 crore.

Says Blue Dart Express managing director Clyde Cooper: "In the past quarter, we have further strengthened our capacity and infrastructure and technology prowess. We have expanded our presence in south India with 12 new direct served locations, expanding our reach to an additional 198 locations. We have acquired a fourth aircraft to be inducted into operations later in the year; and we have increased and improved our warehousing facilities in Maharashtra including our important hub at Bhiwandi besides adding on and upgrading our facilities in different parts of the country."

The company has sales alliance with DHL Worldwide Express offering its customers the global reach.

During the first half of this fiscal the company has posted a net profit of Rs 12.19 crore showing, an increase of 31 per cent over the previous year's first half. The total income stood at Rs 170.79 crore, up from Rs 158.12 clocked during the first half of the previous year.