Blue Dart sees profits rise in Q2
29 / 10 / 2020
By Roger Hailey
India’s Blue Dart Express handed its staff a $352 bonus after posting a ₹414m ($5.6m) profit after tax for its fiscal second quarter 2020, a 196% increase on the ₹140m ($1.9m) in the same period of 2019.
Blue Dart, which is preparing for the logistics of distributing a Covid-19 vaccine, saw revenue from operations for the quarter ended September 30, 2020 stand at ₹8,644m ($116.2m), an 8% increase.
The express air and integrated transportation and distribution company, part of Deutsche Post DHL Group’s DHL eCommerce Solutions division, said that the Covid19 pandemic posed “a challenging time for all”.
Said a spokesperson: “Blue Dart not only weathered these challenges successfully, but also continued to ensure unmatched service delivery to its customers. To appreciate the hard work put in by its employees, Blue Dart being part of the DP-DHL Group, which strongly believes in People First Policy, paid one-time ex-gratia of ₹26,238 (€300) to each Blue Darter (excluding Senior Management) in September 2020.”
This one-off ex-gratia payment had an impact of ₹342m ($4.6m) during the quarter.
Blue Dart managing director Balfour Manuel, said: “Macroeconomic indicators as well as the opening up of the economy signals 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 a second wave of pandemic is expected to hit the country in the winter season. We have also consolidated our position over this quarter for our key products.”
Manuel continued: “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.”
Manuel added: “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 and infrastructure will take a new trajectory as we build our brand for the future.”