Blue Dart Express reports 195% YoY profit surge to ₹414 mn in Q2 FY21

October 30, 2020: The express air and integrated transportation & distribution company, Blue Dart Express, on Thursday declared its financial results for the July–September quarter with 195 percent increase in profit after tax to ₹414 million compared to ₹140 million of the same quarter previous year.

Revenue from operations for the quarter stood at ₹8,644 million.

“Macroeconomic indicators as well as the opening up of the economy signal 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 the second wave of the pandemic is expected to hit the country in the winter season. We have also consolidated our position over this quarter for our key products,” said, Balfour Manuel, managing director, Blue Dart.

"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,” he added.

Blue Dart paid one-time ex-gratia of ₹26,238 (€300) to each Blue Darter (excluding senior management) in September 2020. This one-time ex-gratia had an impact of ₹342 million during the quarter.

Balfour Manuel, noted, “Blue Dart continued to provide 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.”

“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.“