Blue Dart Express surged 10.82% to Rs 3,596.05 after consolidated net profit surged 189.1% to Rs 42.33 crore on 8% rise in net sales to Rs 866.57 crore in Q2 September 2020 over Q2 September 2019.
Consolidated profit before tax (PBT) soared 175.2% to Rs 57.07 crore in Q2 September 2020 as against Rs 20.74 crore in Q2 September 2019. Current tax expense for the quarter dropped 40.2% to Rs 5.05 crore as against Rs 8.44 crored in Q2 September 2019. The Q2 result was declared post trading hours yesterday, 29 October 2020.
Blue Dart Express paid one-time ex-gratia of Rs 26,238 to each Blue Darter (excluding senior management) in September 2020. This one-time ex-gratia had an impact of Rs 34.20 crore during the quarter.
Balfour Manuel, the managing director of Blue Dart, has said that: "Macroeconomic indicators as well as the opening up of the economy signals a greener future for the nation. We see our customers' businesses coming back on track with an exciting festive season around the corner for which we are fully prepared. We are cautiously optimistic for what the future holds for the economy as a second wave of pandemic is expected to hit the country in the winter season. We have also consolidated our position over this quarter for our key products."
"As pharmaceutical organizations and the Government of India work in tandem to roll out a COVID-19 vaccine, Blue Dart is gearing up to provide logistics support when a prospective vaccine candidate does arrive."
"Blue Dart continued to provide unrelenting support to customers across industry verticals through the pandemic. These efforts were richly appreciated by our customers at various forums. Blue Dart has navigated through the crisis well. Performance during the quarter has been supported by better revenue realization and cost efficiencies initiatives," he added.
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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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