Leading logistic player Blue Dart Express Ltd today reported 26.5 per cent dip in net profit at Rs 30.65 crore for the quarter ended March 31, 2014 on the back of higher expenses.
The company's net profit in the corresponding quarter of FY'13 was Rs 41.75 crore, the company said in a BSE filing.
The total income from the operations of the company, however, rose from Rs 503.53 crore, over Rs 445.99 crore in the corresponding quarter of FY 2012-13, it said.
The total expenses of the company went up from Rs 462.03 crore, over Rs 396.05 crore in the same period of the FY'13.
The company has changed its accounting year to commence from April 1 of every year and to end on March 31 of the following year "to pro-actively comply with the companies Act 2013. Consequent to this, the previous accounting period was for fifteen months period from January 1, 2012 to March 31, 2013," it said.
Commenting on the results company's managing director Anil Khanna said, "Inspite of the strong headwinds faced by the Indian economy and high cost pressures, Blue Dart has performed reasonably well on all fronts and capitalised on its quality, consistency, reliability, passion and commitment."
"Looking forward, we will continue to drive our business with insane customer centricity, strengthen our market share in the air and ground express segments," he added.
The board of directors recommended a final dividend of Rs 15 per share for the year ended March 31, 2014. Together with the interim dividend of Rs 35 per share declared on Febraury 5, 2014 the total dividend for the year ended March 31 works out to Rs 50 per share, it added.
The company scrip closed 1.92 per cent higher at Rs 3,239.20 a piece on the BSE, whose 30-share Sensex was up 2.91 per cent.
