Blue Dart Express surges on two-fold jump in December quarter profit

Reported net profit of Rs 45 crore in December 2012 quarter against Rs 22 crore in a year ago quarter.

Blue Dart Express has surged 5% to Rs 2,070 on reporting almost two-fold jump in its standalone net profit at Rs 45.01 crore in the quarter ended December 2012, on back of higher sales. The logistics company had profit of Rs 22.38 crore in a year ago quarter.

“Net sales jumped 16.5% to Rs 458 crore from Rs 394 crore during the same period, while total expenditure increased by 8.8% to Rs 396 crore from Rs 364 crore,” Blue Dart Express said in a statement

Meanwhile, the company said it has changed its accounting year to commence from April 1 of every year and to end on March 31 of the following year, to proactively comply with the proposed Companies Bill 2012. Consequent to this, the current accounting period would be for the 15-month period from January 1, 2012 to March 31, 2013.

 

The stock opened at Rs 2,060 and hit a high of Rs 2,100 on NSE. A combined around 5,000 shares have changed hands on the counter so far on both the exchanges.