Blue Dart’s Quarter 3 profit soars 30%
Blue Dart Express Limited, South Asia’s premier express air and integrated transportation & Distribution Company, declared its financial results for the quarter ended December 31st, 2021, at its Board Meeting held in Mumbai.
The company posted ₹1,222 million profit after tax for the quarter ended December 31st, 2021 (previous year, profit after tax for the corresponding quarter was ₹938 million). Revenue from operations for the quarter ended December 31st, 2021 stood at ₹12,548 million with a growth of 21% over the same quarter from the previous year. EBITDA for the quarter is ₹ 2,117 million, a growth of 15% over the same quarter last year. EBITDA margin stood at 16.8%,
Moreover, Blue Dart’s strong financial performance over the preceding quarters have paved the way for the Express Logistics Provider’s credit rating to be reviewed by the ICRA as well as India Ratings and Research to AA+. True to its promise of being an Investment of Choice, the company has also proposed to reward shareholders with an interim dividend of ₹25/- (Rupees Twenty Five) per share, which will be paid in February 2022.
Balfour Manuel, Managing Director, Blue Dart says, “Our results reflect our efforts in continuing to remain a Provider of Choice, Employer of Choice and an Investment of Choice. The company has witnessed strong growth during Q3 of FY21-22 owing to heightened business activity from key industry verticals. I am pleased to share that the Board has announced payment of dividends to our shareholders. While the nascent stages of the third wave of the pandemic had begun to take shape towards the end of the quarter, Blue Dart’s succinct focus on delivering excellence, driven through innovation and digitisation were the main contributors to our profit margin. Apart from this, growth in demand due to the festive season, our ability to provide incomparable service quality despite a surge in volumes and our extensive reach has helped us remain a ‘Customer Trusted Brand’. We continue to invest in our capabilities in order to fulfil our role as the Nation’s Trade Facilitator.”
Speaking about the future outlook, he says, “While economic indicators, towards the end of the quarter, pointed towards green-shoots emerging in the economy, the surge in cases due to new variants of the coronavirus indicate a slow-down in recovery. However, we remain cautiously optimistic for what the future holds, especially as we work towards building a sustainable business that stands to benefit our stakeholders by providing them with responsible solutions that safeguard our planet.”
Blue Dart’s market differentiator, apart from its capabilities and its commitment to its customers, remains its ability to curate innovative individualised solutions for every logistics requirement. Over the course of the quarter, the organization continued to deliver excellence across a wide range of its customer segments including eCommerce, Consumer Durables, Consumer Electronics, Automotive, Banking etc.
The organization has increasingly emphasized on its technological prowess, in alignment with the Deutsche Post DHL Group’s ‘Strategy 2025 – Delivering Excellence in a Digital World’, which is leveraged to provide on-time deliveries, especially in the face of high demand. In light of this, Blue Dart continues to invest in innovation and technology to ensure a future-ready supply chain that has the ability to remain operational, even in the event of another unprecedented crisis. Most recently, the company has invested in building a tech-first infrastructure by launching the Blue Dart Med-Express Consortium that leverages the efficiency and increased reach provided by drone flights and has also revamped its C2PC operational module. Apart from investing in enhancing customer experience, Blue Dart also continues to invest in its People, Brand and Corporate Social Responsibility. Introducing several ‘Learning and Development’ initiatives for its teams as well as making Diversity and Inclusion a key part of its ‘People First’ philosophy, the organization continues to build a work culture that encourages growth.
Blue Dart continues to focus on delivering Exceptional Service Quality at all times and provides its customers with one-stop, hassle-free solutions to all their logistics requirements. In its journey to delight its customers, the company carried 190.86 million shipments weighing 682,854 tons during the nine months ended December 31st 2021.
Blue Dart is strongly committed to giving back to the communities and the environment in which it operates. The company has clear Sustainability Goals of its own that it aims to achieve by following a well-detailed Sustainability Roadmap. The roadmap encompasses three crucial elements: Clean Operations for Climate Protection (Environment), a Great Company to Work for all (Social) as well as building a Highly Trusted Company (Governance). Following the roadmap, Blue Dart seeks to make a lasting impact on communities through its ‘Go Programs’ – GoTeach (Championing education), GoGreen (Protecting the environment) and GoHelp (Disaster management response) that align with the UN Sustainable Development Goals. Additionally, Blue Dart recently won two ACEF Gold Awards for its widely recognised Blue Edge: Improving Lives Program that has empowered the lives of around 3,700 young adults and for its GoGreen initiatives where the organisation has planted 555,000 trees till date.