Blue Dart

number one express air and integrated transportation, distribution and logistics company, announced a substantial drop in standalone net profit for the quarter ended December 2008. During the quarter, the profit of the company declined 82.25% to Rs 124.10 million from Rs 699 million in the same quarter previous year.

Net sales for the quarter declined 71.65% to Rs 2,292.80 million, while total income for the quarter fell 71.67% to Rs 2,299.80 million, when compared with the prior year period.

The company reported earnings of Rs 5.23 a share during the quarter, registering 82.25% decline over prior year period.

Quarterly Results - Standalone (Rs in mn)
As at	Dec - 08	Dec - 07	%Change
Net Sales	2,292.80	8087	(71.65)
Net Profit	124.10	699	(82.25)
Basic EPS	5.23	29.47	(82.25)

During the quarter, the operating margin of the company declined by 576.23 basis points to 10.05% compared with the previous year period. Interest cost stood at Rs 15 million while depreciation cost fell 81.71% to Rs 43.90 million over previous year period.