Blue Dart spurts on turnaround Q4 numbers

Blue Dart Express rose 2.93% to Rs 5,475.70 after the company's consolidated net profit stood at Rs 90 crore in Q4 FY21 compared with net loss of Rs 30.57 crore in Q4 FY20.

Net sales soared 33.3% to Rs 968.28 crore in Q4 FY21 from Rs 726.30 crore in Q4 FY20.

On a standalone basis, the company posted Rs 89.10 crore profit after tax (previous year Rs 23.8 crore loss) for the quarter ended 31 March 2021 and Rs 96.3 crore profit after tax (previous year Rs 38.3 crore loss) for the year ended 31 March 2021. The profit for the year is after absorbing the impact of special COVID-19 ex-gratia (Rs 34.2 crore) paid to employees in September 2020 and accelerated depreciation of IT servers (Rs 24 crore). The margin improvement is backed up by better realization and cost efficiencies during the year.

Revenue from operations for the quarter ended 31 March 2021 stood at Rs 9,66.2 crore and Rs 3279.70 crore for the year ended 31 March 2021.

Balfour Manuel, the managing director (MD) of Blue Dart Express, said: "We are cautiously optimistic about the new financial year on the background of the current wave II and the impending wave III of the pandemic."

"Going forward, our focus will continue to remain on consistently upgrading our infrastructure and digitized solutions to ensure that we optimise the man-tech combination. We are also enthused by the Governments initiatives aimed towards building a non-fragmented logistics sector."

The board has recommended a dividend of Rs 15 per share on the equity capital for the year ended 31 March 2021.

Blue Dart Express is South Asia's premier express air and integrated transportation & distribution company. It offers secure and reliable delivery of consignments to over 35,000 locations in India.

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