Blue Dart Express Limited, South Asia’s premier express air, integrated transportation and distribution logistics Company, declared its financial results today for the quarter and year ended March 31, 2023, at its Board Meeting held in Mumbai.
Revenue from operations for the year ended March 31, 2023 stood at ₹ 5,172 crore with a growth of 17.3% over the previous year and posted ₹ 366 crore profit after tax for the year ended March 31, 2023 (previous year, profit after tax was ₹ 376 crore). Revenue from operations for the quarter ended March 31, 2023 is at ₹ 1,217 crore and profit after tax is ₹ 70.33 crore.
Performance Highlights: FY22-23 vs. FY21-22
|FY 22-23||FY 21-22||Growth||FY 22-23||FY 21-22||Growth|
|Revenue from operations (₹ Cr)||5,172.22||4,409.02||17.3%||5,172.22||4,410.49||17.3%|
|EBITDA (₹ Cr)||682.80||696.29||-1.9%||969.53||994.63||-2.5%|
|EBT (₹ Cr)||498.74||503.53||-1.0%||508.20||512.29||-0.8%|
|EAT (₹ Cr)||366.44||376.44||-2.7%||370.53||382.21||-3.1%|
|EPS (absolute ₹)||154.43||158.65||-2.7%||156.16||161.08||-3.1%|
The fiscal year was one of revival, with moderate growth witnessed in the last quarter. COVID-19 limitations were lifted, and most countries opened their international borders. The global economic recovery from the epidemic continued, despite many nations experiencing continued inflation caused partly by geopolitical conflicts. In India, in recognition of the enormous contribution of the logistics industry to the national economy and the growing need in Tier II and III cities, the Government of India accelerated its efforts to develop logistics infrastructure in the country on the dual engines of the PM Gati Shakti plan and the National Logistic Policy. During the period FY 2022–23, Blue Dart, with its futuristic strategy, established its network penetration in the rest of Bharat with the opening of 55+ new company-owned retail stores, strengthening its ability to deliver as the nation’s trade facilitator. Blue Dart’s exceptional service quality remains one of its major pivots, alongside automation and technology, towards providing customers with a seamless one-stop solution for all their logistics requirements. We carried 32.82 crore shipments weighing 11,54,000 metric tonnes in the year under review.
Balfour Manuel, Managing Director, Blue Dart, says, “We continue to maintain our focus on operational improvements and productivity enhancements, which led to growth. We closed FY’23 with a strong potential for the future by developing creative solutions for our customers and expanding our fleet with two Boeing 737 aircraft to serve the length and breadth of the country. We will benefit from a consolidated market and deepened relationships with our existing stakeholders.”
“As we enter FY24, we see an increasing need for businesses to stay agile by leveraging next-generation technologies. We are committed to assisting our customers in remaining competitively dominant and relevant in an era of rapidly changing market conditions by assisting them in adapting to leaner and more sustainable logistics solutions. This prudential and operational excellence approach prepares us well for all business uncertainties”, he added.
As part of the DPDHL Group, Blue Dart is committed to contributing to the Group’s mission of reducing our carbon emissions to below 29 million tonnes by 2030 along with continued business growth. Blue Dart was able to reduce its carbon emissions by 42% from the baseline of 2007 and plans to become net zero by 2050. Blue Dart, in collaboration with DPDHL Group, provides India’s first end-to-end GoGreen Carbon Neutral Service (CNS) in both international and domestic markets. During the fiscal year under review, Blue Dart maintained its specialised Carbon Neutral Service, which provided customers with an environmentally responsible shipping option to offset the carbon emissions produced by the transportation of their shipments. By the year 2030, the DPDHL Group has committed to reducing its absolute direct emissions from the use of fuels and its indirect emissions from purchased energy by 42%. Additionally, reducing the emissions from fuel, energy related activities, upstream transport along with sales and business travel by 25%.