Blue Dart Express stock ends lower on Q1FY21 net loss

The consolidated net loss at Rs125.84cr in Q1FY21 as compared to a profit of Rs5.99cr in Q1FY20.

Jul 31, 2020 05:07 IST India Infoline News Service

Blue Dart Express
Blue Dart Express Limited, South Asia's premier express air and integrated transportation, distribution and logistics company, declared its financial results for the quarter ended June 30, 2020, at its Board Meeting held in Mumbai today.

The consolidated net loss at Rs125.84cr in Q1FY21 as compared to a profit of Rs5.99cr in Q1FY20.

Revenue from operations for the quarter ended June 30, 2020, stood at Rs414.2cr and net loss at Rs127.9cr (after accounting for deferred tax).

The stock at Rs2,061.85, down by Rs54.4 or 2.57% from its previous closing of Rs2,116.25 on the BSE. The scrip opened at Rs2,123 and has touched a high and low of Rs2,123 and Rs2,050 respectively.

Balfour Manuel, Managing Director, Blue Dart said "Blue Dart continues to be a forerunner in the express logistics industry in India, with a strategic focus on all sectors. The business environment was extremely challenging due to the COVID-19 pandemic. However, the Company continued its operations to support the critical supply chain in challenging times. The national lockdown during the quarter impacted our results as the GDP continues to be in negative territory, and the ecosystem for an efficient supply chain was dislocated but we continued our role as the nation’s trade facilitator moving essential items for the Pharmaceutical and Medical Equipment Industries and thereafter as the Government eased the restrictions we moved non-essential items for various sectors.  We are proud to be a  part of the Government’s ‘Lifeline Udan’ initiative and flew domestic and international charters carrying PPE Kits, Ventilators, COVID testing kits etc. We are thankful to our teams who have been fully engaged in a customer-centric approach thereby ensuring that even in the time of great stress we have played a key role in helping the nation and our customers in keeping its mission-critical supply chain operating. We at Blue Dart are very proud of this achievement.

Automation and technology will continue to be the pivots of our business. Both of this allows our business to be resilient which ensures that there is a high sense of discipline in the organisations, our customers are highly satisfied and the balance sheet is sound. Our commitment to serve Blue Dart country with the support of our highly passionate team remains persistent.”

He added, “We will further strengthen our position as the Provider of Choice and the Investment of Choice and build a business that consistently sets a benchmark for the industry and is future-ready.

We are optimistic about the future and our key pivots of focus on Emerging Markets, Sectors, SMEs, Channel Development, and Reach Expansion will all continue in aggression. These we believe will create long term value for the business and stakeholders.”

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