Blue Dart confident of its network and strategy
Fresh from picking up the Regional Express Provider of the Year award at the annual Payload Asia Awards 2013, Blue Dart Express, India’s leading domestic integrated express company says it’s confident its unique air network and outsourced ground delivery service is well placed to ride out the current economic malaise and continue its growth track as the economy recovers. By Donald Urquhart.
January 20, 2014
By PLA Editor
In an interview with Payload Asia, just prior to the awards, Anil Khanna, Blue Dart managing director noted that the current global slowdown has hit India worse than the major economic upheaval of 2008/09. “Even in 2008/09 when global GDP growth fell to almost 4.5 per cent, India still had over six per cent GDP growth, down from the 2007 figure of about seven per cent.” With India’s GDP growth now hovering at around five per cent “it’s the worst in a decade,” he says.
“Therefore we are also impacted, but we are growing, just not growing at a 25-30 per cent pace, more about 12-13 per cent.” Clearly not figures to be distraught over considering the drubbing many air cargo companies are taking in the current environment, but none-the-less it is an environment which impacts the bottom line. The company 75 per cent owned by Deutsche Post DHL generated a revenue of INR 4.71 billion (US$76.1 million) in the three months to the end of September 2013. However, net profit dropped 6.6 per cent year-on-year in the second quarter, to INR 300.6 million (US$4.86 million) and a full 26 per cent down on profits seen in the first quarter.