Blue Dart Express appoints Sudha Pai as CFO with effect from Sept 1

Logistics company Blue Dart Express Ltd, on Thursday, appointed Sudha Pai as Chief Financial Officer (CFO) of the company. She will assume charge as CFO with effect from 1 September, 2023.

In a regulatory filing, the company said, “Sudha Pai, is a qualified cost accountant, currently working as chief financial officer, in DHL Global Forwarding, India, a DHL group company.”

She also held the responsibility as finance director Ezyhaul India Pvt Ltd, CFO & compliance officer of DHL Logistics Pvt Ltd (Freight Forwarding division), heading finance for Rs 8,000 crore turnover with 4 major divisions and over 800 employees strength.

Sudha Pai is part of the senior management team at DHL Global Forwarding, with direct reporting to Regional CFO and dotted line to the Country CEO.

The company also appointed VN Iyer as group chief financial officer (Group CFO) of the company with effect from 1 September, 2023.

VN Iyer is BSc (Statistics) and qualified cost accountant with more than three decades of experience in accounts, finance, taxation, treasury operations, financial analysis, internal controls framework. He was deputed as CFO of Blue Dart Aviation Ltd for five years and has exposure in Aviation Finance as well.

Shares of Blue Dart Express, on Thursday, ended marginally higher at Rs 6,422.40 on BSE.

In May, Blue Dart Express Ltd posted an over 49 per cent decline in its consolidated net profit to Rs 69.44 crore in the March quarter on account of increased expenses.

It had reported a consolidated net profit of Rs 136.97 crore in the year-ago quarter, the company said in a BSE filing. Its total income rose to Rs 1,225.22 crore from Rs 1,169.52 crore in the January-March period of FY22.

While the company's total expenses rose to Rs 1,128.59 crore as against Rs 986.27 crore a year ago.

The company has also approved an interim dividend of Rs 30 per equity share for the financial year 2022-23. "We continue to maintain our focus on operational improvements and productivity enhancements, which led to growth.