Blue Dart Q3 results declared: Profit of Rs 95 crore

Indian logistics company providing courier delivery services Blue Dart Express Limited has declared its financial results for the quarter ended December 2020, with a net profit of Rs 93.8 crore, compared to Rs 33.1 crore in the year-ago period, according to a BSE filing.

The net sales or revenue from operations were Rs 1,034.92 crore in December 2020 rose 20.95% from Rs 855.64 crore in December 2019.

Quarterly net profit stood at Rs 93.78 crore in December 2020, rose by 383.49% in comparison to Rs 33.08 crore in December 2019.

Earnings before income, tax, depreciation and amortizations (EBITDA) was Rs 175.73 crore in December 2020, improved by 150.01% from Rs 70.29 crore in December 2019.

Blue Dart has performed significantly well in the December 2020 quarter, with an increase in sales by 21%. This can be owed to right yield management and aggressive cost efficiencies delivered through service delivery by passionate and pandemic warriors frontline Blue Darters.

Balfour Manuel, managing directed, stated, “Blue Dart has outperformed in the quarter ended 31st December, 2020 with an increase in sales by 21%. The stellar performance for the quarter is backed by right yield management and aggressive cost efficiencies delivered though high service delivery by passionate and pandemic frontline Blue Darters. Sectors such as e-commerce, pharmaceutical, consumer electronics and other saw rapid scaling owing to a shift in consumer buying behavior and consumption patterns.”

Manuel said that the company had surpassed expectations of customers by focussing on service quality.

“We are thrilled to announce that Blue Dart has surmounted all challenges to record an increase in sales…We also acquired two Boeing 757-200 aircraft to stabilize our returns and derive economic value for the long term,” Manuel continued.

Blue Dart has played the role of a trade facilitator to the nation and this continues as they brace themselves to begin vaccine distribution throughout the country.

During the period of lockdown, all collections from customers and payments to partners have shifted to a 100% digitalized mode. The company pioneered the Contact Less Delivery (CLD) to secure the safety of their customers using OTP based deliveries, Customer Mobile App, Digital Sorry Card etc, said Manuel.

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