Blue Dart Express drops after weak Q3 numbers

Blue Dart Express lost 1.89% to Rs 3340 at 10:37 IST on BSE after net profit declined 48.8% to Rs 23.04 crore on 10.3% growth in net sales to Rs 505.41 crore in the quarter ended 31 December 2013 over the quarter ended 31 December 2012.

The Q3 result was announced after market hours on Wednesday, 5 February 2014.

Meanwhile, the S&P BSE Sensex was down 134.45 points or 0.66% at 20,126.58.

On BSE, so far 566 shares were traded in the counter as against average daily volume of 2,731shares in the past one quarter.

The stock hit a high of Rs 3,354.70 and a low of Rs 3,270 so far during the day. The stock had hit a 52-week low of Rs 1.820 on 22 February 2013. The stock had hit a record high of Rs 4,040 on 22 January 2014.

The stock had outperformed the market over the past one month till 5 February 2014, advancing 3.42% compared with the Sensex's 2.83% fall. The scrip had also outperformed the market in past one quarter, surging 20.75% as against Sensex's 3.4% fall.

The mid-cap company has equity capital of Rs 23.73 crore. Face value per share is Rs 10.

Commenting on the company's financial performance, Anil Khanna, MD, Blue Dart Express said, "Despite tough economic challenges, Blue Dart has delivered value to its stakeholders by incorporating high benchmarks and quality standards in every aspect of business. Blue Dart has steered through successfully with a clear focus on fundamentals like quality, consistency, reliability, passion and commitment. With this holistic approach, Blue Dart will remain an undisputed leader in the industry and consistently achieve higher growth in the years to come".

Blue Dart Express' board of directors at its meeting held on Wednesday, 5 February 2014, declared interim dividend of Rs 35 per share for the year ending 31 March 2014. The record date for the payment of interim dividend is fixed as 17 February 2014.

Blue Dart Express is South Asia's premier courier, and integrated express package distribution company. It has an extensive domestic network covering over 33,867 locations in India, and it services more than 220 countries and territories worldwide through its group company DHL.

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