Blue Dart Express Q4 results: Posts net profit of Rs 90 cr

NEW DELHI: Logistics services provider on Wednesday reported a consolidated net profit of Rs 90 crore for the fourth quarter ended March 2021.

The company had posted a net loss of Rs 30.57 crore in the January-March period a year ago, Blue Dart Express said in a BSE filing.

Total income was up 34.11 per cent to Rs 975.64 crore as against Rs 727.49 crore in the corresponding quarter of the previous fiscal.

Total expenses were at Rs 853.63 crore, up 12.49 per cent from Rs 758.87 crore in Q4 FY20.

For the fiscal year 2020-21, the company reported a net profit of Rs 101.81 crore. It had logged a net loss of Rs 41.86 crore in the previous year.

Total income for the entire fiscal was at up 3.69 per cent to Rs 3,308.43 crore compared to Rs 3,190.65 crore earlier.

Blue Dart Express Managing Director Balfour Manuel said, “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 organisation’s ability to perform has helped us during this time.”

Out the outlook, he said the company is “cautiously optimistic” about the new financial year against the backdrop of the current wave and the impending third wave of the pandemic.

“While we had started reaping the benefit of cost efficiency measures and restructuring exercise in the quarter under consideration, lockdown due to Covid-19 in the second fortnight of March impacted our revenues and bottom line.

“…we expect to see our operations coming to near normal soon after the lockdown is lifted, thanks to passionate Blue Darters who are ever willing to meet and exceed customers’ expectations,” he added.

In a separate filing, Blue Dart said its board on Wednesday recommended a dividend of Rs 15 per share for the year ended March 31, 2021.

Shares of Blue Dart Express Ltd on Wednesday settled at Rs 5,319.80 on BSE, up 2.01 per cent from the previous close.

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