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2013-10-16

Blue Dart sales increases by 12.87% in 2nd quarter

Blue Dart Express Limited express air and integrated transportation, distribution and Logistics Company, declared its financial results for the quarter ended September 30, 2013, at its Board Meeting held in Mumbai on Tuesday.

Blue Dart Express Limited express air and integrated transportation, distribution and Logistics Company, declared its financial results for the quarter ended September 30, 2013, at its Board Meeting held in Mumbai on Tuesday.

 

The net sales from operations for the quarter ended September 30, 2013 stood at Rs.471.02 crore, an increase of 12.87% over the corresponding quarter of the previous financial year.

 

The company posted Rs.30.06 crore profit after tax for the quarter ended September 30, 2013. The Board of Directors also approved a scheme of arrangement (“Scheme”) for issue of Unsecured, Redeemable, Non-convertible fully paid Debentures of Rs. 10 each, by way of Bonus, out of Surplus in the Statement of Profit and Loss to reward the shareholders in the 30th year of its operations.

 

The Scheme is subject to approval from the Hon’ble High Court of Judicature at Bombay, shareholders and creditors of the Company, Reserve Bank of India, Stock Exchanges and other authorities.

 

The Scheme entails issue and allotment of 7 (seven) Debentures under Series I Debentures redeemable at the end of 36 months from the date of allotment, 4 (four) Debentures under Series II Debentures redeemable at the end of 48 months from the date of allotment and 3 (three) Debentures under Series III Debentures redeemable at the end of 60 months from the date of allotment for every 1 (one) equity share of the Company held by the Shareholders on the Record date to be fixed for this purpose.

 

Anil Khanna, Managing Director, Blue Dart Express Limited said, “In tough times like these when the industry is grappling to cope with the current economic scenario and the slow GDP growth, we have worked as one team with determination to overcome the challenges and have kept up to our commitment to service excellence.

 

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