New Delhi: Logistics major Blue Dart Express today reported a 17 per cent growth in standalone net profit at Rs.40.49 crore for the quarter ended March 31, 2016, helped by cost efficiency measures and focus on online retail market.
The firm had clocked a net profit of Rs. 30.74 crore in the year-ago period, it said in a BSE filing.
Its total standalone income rose by 10 per cent to Rs. 629.74 crore during the January-March quarter of last fiscal againstRs. 571.01 crore in the same quarter in 2014-15.
On the performance, its Managing Director Anil Khanna said: “It has been a tumultuous financial year for the express industry and as a business Blue Dart continues to face insurmountable challenges every day.”
However, the firm has displayed a modest performance due to its focus on cost rationalisation and efficiency to increase EBIT margins even under difficult economic conditions, he added.
“We have aggressively championed the B2C segment, especially e-tail, without any dilution to the B2B business,” Khanna noted.
For the entire 2015-16 fiscal, Blue Dart’s standalone net profit rose to Rs. 189.88 crore compared to Rs. 126.84 crore in 2014-15, while total standalone income rose to 2,553.86 crore from Rs. 2,268.50 crore during the same period.
Khanna said: “We will steer our business further through automation and technology enhancement, by strengthening our network and improving our service quality while continuing with our insanely customer centric-culture with the support of our highly enthused and passionate team.”
During the year ended March 31, 2016, Blue Dart handled over 1,594.79 lakh domestic shipments, 8.94 lakh international shipments and over 595,623 tonnes of documents and parcels across India and 220 countries globally.