Announces Q1 results (Standalone), Limited Review Report (Standalone) & Results Press Release for the Quarter ended June 30, 2016 [Result]

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BLUE DART EXPRESS LIMITED July 28, 2016 BSE Limited, Sir Phiroze Jeejeebhoy Towers, Dalai Street, Fort, Mumbai —400 001 Blue Dart Center, Sahar Airport Road, Andheri (East), Mumbai - 400 099, India Tel.: 2839 6444 Fax: 2824 4131 CIN : L61074MH1991PLC061074 www.bluedart.com communications@bluedart.com Scrip code: 526612 Re: Un-Audited Financial Results and 'Limited Review Report' for the quarter ended June 30, 2016. Dear Sir / Madam, Pursuant to the provisions of Regulation 33 read with Regula
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  BLUE D RT EXPRESSLMTE July 28, 2016 BSE Limited, Sir Phiroze Jeejeebhoy Towers, Dalai Street, Fort, Mumbai —400 001 Scrip code: 526612 Blue Dart Center, Sahar Airport Road, Andheri (East), Mumbai - 400 099, India Tel : 2839 6444 Fax: 2824 4131 CIN : L61074MH1991PLC061074 www.bluedart.com communications@bluedart.com Re: Un-Audited Financial Results and Limited Review Report for the quarter ended June 30, 2016. Dear Sir / Madam, Pursuant to the provisions of Regulation 33 read with Regulation 30 of Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the Regulations ), please find enclosed herewith, Un- Audited Standalone Financial Results for the quarter ended June 30, 2016, taken on record by the Board of Directors of the Company in its meeting held on Thursday, July 28, 2016 at 1.45 p.m. at the Registered Office of the Company at Blue Dart Centre, Sahar Airport Road, Andheri (East), Mumbai — 400 099 Please also find enclosed herewith copy of Limited Review Report issued by M/s. Price Waterhouse, the Statutory Auditors of the Company on Un-Audited Standalone Financial Results for the quarter ended June 30, 2016. We also enclose herewith copy of the Press Release published by the Company in this regard. Thanking you, Yours faithfully, For Blue Dart Express Limited GI ullar Gunderik ompany Secretary Head-Legal Compliance End: as above cc: National Stock Exchange of India Limited Exchange Plaza, C-1, Block G Bandra Kuria Complex, Bandra (East) Mumbai 400 051  BLUE D RT EXPRESSLMTE Blue Dart Center, Sahar Airport Road, Andheri East), Mumbai - 400 099, India Tel : 2839 6444 Fax: 2824 4131 CIN : L61074MH1991PLC061074 www.bluedart.com communications@bluedart.com BLUE DART EXPRESS LIMITED Regd. Office : Blue Dart Centre, Sahar Airport Road, Andheri (East), Mumbai - 4110 099. Tel : 28396444 Fax : 28244131 ebsite : www.bluerlartcom -Mail id : communications@bluedartcom CON : L61074M111991PLC061074 Statement of Standalone Unaudited Financial Results for the Quarter Ended 30/06/2016 r n Lakhs [ Particulars Quarter Ended 30/06/2016 (Unaudited) Quarter Ended 31/03/2016 (Unaud)ted) Quarter Ended 30/06/2015 : (Unaudited) 1. Income from operations . ————   — [(b) Other opsEati Ig  income — 2,137 - - 62,967____ . 6 . 1„§ . 1 3 Total inctime from operations :net) 62137 6/ 967 61   689 2. xpsyses - _la) FreilL I oppdlingiad servicin_gsssts (LIFLI   38,099 39,344 38,489 . ,(3 ) Employee benefits expsase 9234 9,692 9,180 [(c) Depreciation and amortisation expense j 088 1,065 931 (d) Other expenses 1396 6,861 6,288 [Total emnses 51517 56,962 54 888 3. Profit from operations before other incom_slinance costs and emsptional items 6 620 6,005 6 801 a 4 ther income 831 1,148 760 5. Profit before finance costs and exaptional items 7,451 7,153 7,561 6. Finance costs 774 763 776 6677 ........ ......... §.::: 3 85 ................6785 9. Profit before tax ... . .—.—___ ___ .—..... .. 10. ;Tax expelise 6 677 2,269 2,135 6„ 3 .  __ 785 2,.,313 11. ;Net Profit for tte_period 4,408 cso 4,423 12. Other comprehensive income, net of income tax . p) Items that will not be reclassffieda . rofit or loss .. _11?) Items that will be reclassified to profit or loss 'Total other coipps . ehnsive it:Fop:Ls net of_income tax 13. 'Total comprehensive income for the period 4,408 4 097 43 14. Paid-up equity share capital .. T pce value t 10/- per share) 373 ., ..73 2,373 15. ,krnings per share „(pf2' 10/- eactlipot annualised) a ) Basic 18.58 17.91 18.85 ;(b) Diluted 18.58 17.91 18.85 Notes: I. et Sales/Income from operations (inclusive of fuel surcharge and currency adjustment factor) has recorded a marginal increase 30, 2016 as compared to corresponding quarter of the previous year with softening trends observed in etail market. 2. The financial results are prepared in accordance with the Companies Indian Accounting Standards) Rules, 2015 Ind As) as prescribed the Companies Act, 2013 and other recognised accounting practices and policies as applicable. Beginning April 1, 2016, the company time Ind AS with a transition date of April 1,2015. 3. The reconciliation between net profit or loss reported in accordance with Indian GAAP (previous GAAP) and Ind AS for the quarter ended June under section 133 of has adopted for the first in LF   hs Qyarter ended ..--..-. -.,.—-- 31/03/2016i 0/06/2015 Net profit reported for the quarter earlier as per previous Indian GAAP Chang   ip Revenue recom   tion policy in line with Ind AU   Revenue) 4,0491 ,559 (274) 141   Impact on costs due to change in Revenue recogaitioiLps_a i n line wish lad AS ...________ 3t i . 00   ....... ....... Interest nterest orauload deposit resulting from fair valuation 48 : 5 --_ Increase in Air Charter costs due to discountinz of pad demsit (iTli - t . 08) 4. 5. 6. 7. Date Place Interest on securitzkusits resullim from fairvaluation _...... .... mortisation sarezsid lease mat due to d   scsuntin& of dassi   x .--   _ .. .)   are_ciation on Fase   hoLdirszroyemsnts ............. Elpployee ben;fit ex   p . u . x_cactuarial Alin / lo   s on efi 12enefit iabik/a   ssts 1_   Others — eferred tax impact of Ind AS adzarments   et Profit as per Lnel AS for the cmarter s _ ther comprehensive incoms, net of income tax (asniarial . pin / Isxs on net Total coi t_p rehensive income for the period .. .. The Company is primarily engaged in a single segment business, within the same time sensitive packages in India and is managed as one entity for its various service treatment is in accordance with the guiding principles enunciated in the Ind AS The Ind AS compliant comparative figures for the quarter ended March review/audit However, the Company's management has exercised necessary its affairs. In accordance with the requirements of Regulation 33 of the SEBI (Listing have performed a limited review of the Company's financial results for the report issued for the above period. The above results were reviewed by the Audit Committee and were thereafter --- .-- : July 28, 2016 : Mumbai . .........._____ ......—. . — ... define - rh . -- elit li.abilj.tias— e.)... geography, of integrated offerings and is governed 108 on Operating Segment. 31, 2016 and for the quarter due diligence to ensure that and Other Disclosure Requirements) quarter ended June 30, 2016. approved by the Board at ..- \E D . ._.........„.................................._ ...ã ........... - — air and ground transportation by a similar set of ended June 30, 2015 such financial results Regulations, There are no qualifications its meeting held on July q i   9   . .. flpi .. j1011 0011 8) -.—.....---- _31 1 3 (51)1 5 - . 4,250i ,472 . -- ã (153)i . i 472 and distribution of risks and returns. The said have not been subjected to provide a true and fair view of 2015, the Statutory Auditors in the limited review 28, 2016. By Order of the Board For Blue Dart Expres   .It5led Anil Khanna (Managing Director) DIN : 01334483  it Seth Partner Membership Number: 105869 The Board of Directors Blue Dart Express Limited Blue Dart Centre Sahar Airport Road Andheri (East) Mumbai 400 099 1 We have reviewed the unaudited financial results of Blue Dart Express Limited (the Company ) for the quarter ended June 30, 2 16 which are included in the accompanying 'Statement of Standalone Unaudited Financial Results for the Quarter Ended 30/06/2016' together with the notes thereon (the Statement ). The Statement has been prepared by the Company pursuant to Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the Listing Regulations, 2015 ), which has been initialled by us for identification purposes. The Statement is the responsibility of the Company's management and has been approved by the Board of Directors. Further, the Management is also responsible to ensure that the accounting policies used in preparation of this Statement are consistent with those used in the preparation of the Company's opening unaudited Balance Sheet as at March 31, 2015 prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed under Section 133 of the Companies Act 2 13 and other recognised accounting practices and policies. Our responsibility is to issue a report on the Statement based on our review. 2. We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410, Review of Interim Financial Information Performed by the Independent Auditor of the Entity issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. 3. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion. 4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the Statement has not been prepared in all material respects in accordance with Ind AS and other recognised accounting practices and policies, and has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement. 5. We draw attention to the following matters: a. Note 2 to the Statement which states that the Company has adopted Ind AS for the financial year commencing from April 1, 2016, and accordingly, the Statement has been prepared by the Company's Management in compliance with Ind AS. b. We were neither engaged to review, nor have we reviewed the comparative figures including the reconciliation to the Total Comprehensive Income for the quarter ended on June 30, 2015 and for the quarter ended March 31, 2016 and accordingly, we do not express any conclusion on the results in the Statement for the quarter ended June 30, 2015 and for the quarter ended March 31, 2016. As set out in note 5 to the Statement, these figures have been furnished by the Management. Our conclusion is not qualified in respect of these matters. For Price Waterhouse Firm Registration Number: 301112E Chartered A countants Mumbai Date: July 28, 2016  BLUE DART EXPRESS LIMITED Regd. Office : Blue Dart Centre, Sahar Airport Road, Andheri (East), Mumbai -400 099. Tel : 28396444 Fax : 28244131 ebsite : www.bluedart.com -Mail id: communications@bluedart.com CIN : L61074MH1991PLC061074 Statement of Standalone Unaudited Financial Results for the Quarter Ended 30/06/2016 r in Lakhs) Quarter Quarter Quarter Particulars Ended Ended Ended 30/06/2016 31/03/2016 30/06/2015 (Unaudited) (Unaudited) (Unaudited) 1. Income from operations a) Net Sales / income from operations 62 137 62 967 61 686 b) Other operating income - - 3 otal income from operations (net) 62 137 62,967 61 689 2. Expenses a) Freight, handling . and servicing costs (net) 38 099 39 . 344 38 489 13 . ) Employee benefits expense 9 934 9 . 692 9 180 c) Depreciation and amortisation expense 1 088 1 065 931 d) Other expenses 6 396 6 861 6 288 otal expenses 55 517 54,962 54 888 3. Profit from operations before other income, finance costs and exceptional items 6 2 620 6,005 6 801 4. Other income 831 1 148 760 5. Profit before finance costs and exceptional items 7 451 7 . 153 7   561 6. Finance costs 774 768 776 7. Profit before exceptional items 6 677 4,385 6 785 8. Exceptional Items - - - 9. Profit before tax 6 677 4,385 6 785 10. Tax expense 2 269 2 135 2 313 11. Net Profit for the period 4 2 408 4 . 250 4 472 12. Other comprehensive income net of income tax (a) Items that will not be reclassified to profit or loss - (153) - (b) Items that will be reclassified to profit or loss - - - otal other comprehensive income, net of income tax - (153)   13. Total comprehensive income for the period 4 408 4 . 097 4 472 14. Paid-up equity share capital (Face value Z 10/-per share) 2 373 2,373 2 373 15. Earningt . per share (of Z 10/- each) (not annualised) . a) Basic 18.58 17.91 18.85 (b) Diluted 18.58 17.91 18.85 Notes: 1. Net Sales/income from operations (inclusive of fuel surcharge and currency adjustment factor) has recorded a marginal increase for the quarter ended June 30, 2016 as compared to corresponding quarter of the previous year with softening trends observed in etail market. 2. The financial results are prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind As) as prescribed under section 133 of the Companies Act, 2013 and other recognised accounting practices and policies as applicable. Beginning April 1, 2016, the company has adopted for the first time Ind AS with a transition date of April 1,2015. 3. The reconciliation between net profit or loss reported in accordance with Indian GAAP (previous GAAP) and Ind AS r in Lakhs) uarter ended 31/03/2016 30/06/2015 i . Net profit reported for the quarter earlier as perprevious Indian GAAP 4,049 4   559 Change in Revenue recognition policy in line with hid AS (Revenue) (4) (274) i mpact on costs due to change in Revenue recognition policy in line with hid AS 36 : 100 Interest on payload deposit resulting from fair valuation 48 45 ncrease in Air Charter costs due to discounting of payload deposit 474 (48) nterest on security deposits resulting from fair valuation .83 99 Amortisation of prepaid lease rent due to discounting of deposits (88) Q (101) Depreciation on leasehold improvements (10)i 8) [ mployee benefit expenses (actuarial gain floss on net defined benefit liability/assets) Others 231 : i 3 : i eferred tax impact of Ind AS adjustments (51)4 5 Net Profit as per Ind AS for the quarter 4,250 472 i ther comprehensive income, net of income tax (actuarial gain / loss on net defined benefit liability/assets) (1534 :Total comprehensive income for the period 4 09 7 ( 472 4. The Company is primarily engaged in a single segment business, within the same geography, of integrated air and ground transportation and distribution of time sensitive packages in India and is managed as one entity for its various service offerings and is governed by a similar set of risks and returns. The said treatment is in accordance with the guiding principles enunciated in the hid AS 108 on Operating Segment. 5. The Ind AS compliant comparative figures for the quarter ended March 31, 2016 and for the quarter ended June 30, 2015 have not been subjected to review/audit. However, the Company s management has exercised necessary due diligence to ensure that such financial results provide a true and fair view of its affairs. 6. In accordance with the requirements of Regulation 33 of the SEBI (Listing and Other Disclosure Requirements) Regulations, 2015, the Statutory Auditors have performed a limited review of the Company s financial results for the quarter ended June 30, 2016. There are no qualifications in the limited review report issued for the above period. 7. The above results were reviewed by the Audit Committee and were thereafter approved by the Board at its meeting held on July 28, 2016. By Order of the Board Waterh For Blue Dart Express . i ed A -V Chartered Accountants firsi 3oi A 2   Anil Khanna Date : July 28, 2016 Mumbai : Mumbai (Managing Director) Place DIN : 01334483
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