Blue Dart Express Reports Net Profit of Rs 90 cr in Q4

Blue Dart Express Ltd, the logistics services provider, has posted a consolidated net profit of Rs 90 crore for the fourth quarter ended March 2021. The company had reported a net loss of Rs 30.57 crore in the January-March period a year ago.

Blue Dart’s total income was up 34.11 percent to Rs 975.64 crore as against Rs 727.49 crore in the corresponding quarter of the previous fiscal. Its total expenses were at Rs 853.63 crore, up 12.49 percent from Rs 758.87 crore in Q4 FY20.

The firm reported a net profit of Rs 101.81 crore for the fiscal year 2020-21. It had logged a net loss of Rs 41.86 crore in the previous year. Blue Dart’s total income for the entire fiscal was up 3.69 percent to Rs 3,308.43 crore compared to Rs 3,190.65 crore earlier.

Balfour Manuel, Managing Director, Blue Dart Express, 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.”

About 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 further added.