Blue Dart Express Ltd. — Interim / Quarterly Report 2025

Jan 29, 2025

BLUE DART EXPRESS LIMITED

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Blue Dart Center, Sahar Airport Road, Andheri (East), Mumbai - 400 099, India Tel.: 022 • 69756444 CIN: L61074MH1991PLC061074 www.bluedart.com communications@bluedart.com

January 29, 2025

To, BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Fort Mumbai - 400 001 Scrip Code - 526612

National Stock Exchange of India Ltd Exchange Plaza, C-1, Block G Sandra Kurla Complex, Sandra East, Mumbai -400 051 NSE Symbol - BLUEDART

Dear Sir / Madam,

Sub: Outcome of Board Meeting held on January 29, 2025

Pursuant to the provisions of Regulation 33 read with Regulation 30 of Securities Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations, 2015, as amended Cthe Regulations'), we hereby inform you that the Board of Directors of the Company at its Meeting held earlier today i.e. Wednesday, January 29, 2025 at the Registered Office of the Company at Blue Dart Centre, Sahar Airport Road, Andheri (East), Mumbai - 400 099, which commenced at 2.45 p.m. and concluded at 6.20 p.m., inter-alia considered and approved following matters:

1. Unaudited Standalone and Consolidated Financial Results of the Company for the quarter and nine months ended December 31, 2024.

A copy of the Unaudited Standalone and Consolidated Financial Results of the Company for the quarter and nine months ended December 31, 2024, along with the Limited Review Report received from the Statutory Auditors of the Company on the said Results are enclosed herewith for your records.

We also enclose herewith a copy of the Press Release published by the Company in this regard.

1. Re-appointment of M/s. Nilesh Shah & Associates, Company Secretaries, as Secretarial Auditors of the Company for conducting 'Secretarial Audit' for the Financial Year 2024 - 2025 under Section 204(1) of the Companies Act, 2013 and issuing 'Secretarial Compliance Report' as required under Regulation 24A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

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Brief Profile of Secretarial Auditors is enclosed herewith as Ann

BLUE DART CERTIFIED EXPRESS LIMITED

1. Renewal of Aircraft, Crew, Maintenance and Insurance Agreement (ACMI) with Blue Dart Aviation Ltd., Wholly Owned Subsidiary of the Company for a period of 5 (five) years from April 1, 2025 to March 31, 2030.

The disclosures required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is enclosed herewith as Annexure 'B'.

Kindly take the above on your records.

Thanking you,

Yours faithfully,

xpress Limited Digitally signed by TUSHAR TUSHAR JAYANT JAYANT GUNDERIA GUNDERIA Date: 2025.01.29 19:08:43 +05'30' ria Hea��..,,.- & Compliance) & Company Secretary

Encl: as above

BLUE DART EXPRESS LIMITED

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Annexure 'A'

Disclosure required pursuant to Regulation 30 of the Listing Regulations read with Para A of Schedule Ill to the Listing Regulations read with the SEBI Circular having reference no. SEBI/HO/CFD/CFD-PoD-1 /P/CIR/2023/123 dated July 13, 2023, with regard to Re-appointment of Secretarial Auditor is given herein under:

M/s. Nilesh Shah & Associates, Company Secretaries

	M/s. Nilesh Shah&Associates, Company Secretaries
	Sr. No. 1. 2. Particulars Reason for change viz; appointment Date of Appointment & Term of Appointment Details Re-appointment pursuant to provisions of Companies Act, 2013 Date of Appointment: January 29, 2025 Term: Appointment for a period of 1 year i.e. Financial Year 2024-2025 Re-appointed M/s. Nilesh Shah & Associates, Practicing Company Secretaries, as Secretarial Auditors of the Company for conducting the 'Secretarial Audit' for the financial year 2024 - 25 under Section 204(1) of the Companies Act, 2013 and issuing 'Secretarial Compliance Report' as required under Regulation 24A of the SEBI Listing Regulations.
	3. Brief Profile Nilesh Shah & Associates, Practicing Company Secretary (ICSI Unique Registration Code P2003MH008800) is in practice since more than to decades. They provide a comprehensive range of services in the areas of SEBI Regulations, Corporate Laws, Compliances and governance to various Listed and Unlisted Companies.
	4. of Not applicable Disclosure relationships between directors (in case of appointment of a dit

BLUE DART EXPRESS LIMITED

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Annexure '8'

Sr. No. Item to be disclosed	Details
a. Details of the counterparies (including name and relationship with the listed entity)	Blue Dart Aviation Limited (BOAL) Wholly Owned Subsidiary of Blue Dart Express Limited (BDEL)
b. Purpose of entering into the Agreement	BDEL and BOAL has a pre-existing Agreement viz; Aircraft, Crew, Maintenance and Insurance Agreement (ACMI) pursuant to which BOAL provides to BDEL, air transportation services utilizing the Aircraft on the Air Routes and the Ground Handling Services.
c. Shareholding, if any, in the entity with whom the Agreement is executed	100% Wholly Owned Subsidiary
d. e. f. g. Significant terms of agreement (in brief) the BDEL has ACMI Contract with BOAL for dedicated air carriage capacity which ensures strong suppor in sustaining the Company's leadership position. Extent and the nature of BOAL is Wholly Owned Subsidiary of impact on management or Blue Dart Express Limited control of the listed entity Details and quantification of N .A. the restriction or liability imposed upon the listed entity Whether, the said parties are BOAL is a Wholly Owned Subsidiary related to promoter/promoter Company of BOEL. OHL Exprss group/ group companies in , ,

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			BLUEDART	CER FlED
			EXPRESS LIMITED
	any manner. If yes, nature of	(Singapore) Pte. Ltd. holds 75% of the
	relationship	equity share capital of BDEL.
h.	Whether the transaction would	BOAL is ·wholly Owned		Subsidiary
	fll within related party	Company of BDEL and transaction
	transactions? If yes, whether	between BDEL and BDAL is Related
	the same is done at "arm's	Party Transaction. The same is at arm's
	length"	length and in the ordinary		course of
		business
i.	In case of issuance of shares	N.A.
	to the parties, details of issue
	price, class of shares issued
j.	Any other disclosures related	Mr.	Balfour Manuel, Managing Director,
	to such agreements, viz.,	BDEL and Ms. Vandana		Aggarwal,
	details of nominee on the	Independent Director is also on the BOAL
	board of directors of the listed	Board.
	entity, potential conflict of
	interest arising out of such
	agreements, etc.
k.	In case of rescission,	N.A.
	amendment or alteration,
	listed entity shall disclose
	additional details to the stock
	exchange(s):
	i. name of paries to the
	agreement;
	ii. nature of the agreement;
	iii. date of execution of the
	agreement;
	1v. details and reasons for
	amendment or alteration and
	impact thereof (including

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--
BLUE DART CERTIFIED
ISO,ooJ . 1!,
EXPRESS LIMITED
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impact on management or control and on the restriction or liability quantified earlier); v. reasons for rescission and impact thereof (including impact on management or control and on the restriction or liability quantified earlier).

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A - Financial Results

BLUE DART EXPRESS LIMITED Tel.: 022 - 69756444 www.bluedart.com Andheri (East), Mumbai - 400 099, India CIN : L61074MH1991PLC061074 Blue Dart Center, Sahar Airport Road, communications@bluedart.com

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	BLUE DART EXPRESS LIMITED Rcgd. Offce: Blue Dart Centre, Sahar Airport Road, Andheri (East), Mumbai. 400 099. Tel:69756444 Website: www.blucdnrt.com e-Mail id : communications(bluedart.com CIN: L61074MHI99IPLC061074 Statement of Unaudited Standalone Financi:al Results for the Quarter ,md Nine Months Ended December 31, 202- Quarter Quarter Quarter Nine Months Nine Months	BLUE DART EXPRESS LIMITED Rcgd. Offce: Blue Dart Centre, Sahar Airport Road, Andheri (East), Mumbai. 400 099. Tel:69756444 Website: www.blucdnrt.com e-Mail id : communications(bluedart.com CIN: L61074MHI99IPLC061074 Statement of Unaudited Standalone Financi:al Results for the Quarter ,md Nine Months Ended December 31, 202- Quarter Quarter Quarter Nine Months Nine Months	BLUE DART EXPRESS LIMITED Rcgd. Offce: Blue Dart Centre, Sahar Airport Road, Andheri (East), Mumbai. 400 099. Tel:69756444 Website: www.blucdnrt.com e-Mail id : communications(bluedart.com CIN: L61074MHI99IPLC061074 Statement of Unaudited Standalone Financi:al Results for the Quarter ,md Nine Months Ended December 31, 202- Quarter Quarter Quarter Nine Months Nine Months	BLUE DART EXPRESS LIMITED Rcgd. Offce: Blue Dart Centre, Sahar Airport Road, Andheri (East), Mumbai. 400 099. Tel:69756444 Website: www.blucdnrt.com e-Mail id : communications(bluedart.com CIN: L61074MHI99IPLC061074 Statement of Unaudited Standalone Financi:al Results for the Quarter ,md Nine Months Ended December 31, 202- Quarter Quarter Quarter Nine Months Nine Months	(( i lakh,) Year
Sr No	Particulars Ended Ended I 31/12/024 30/09/2024 Unaudited naudilcd	Ended 31/12/023 naudiled	Ended 31/12/2024	Ended 31/12/2023 Unaudited	Ended 31/03/2024 Audited
I. 2.	Income (a)Rcvcnuc frol .perations (b)Othcr income Total income Expenses 1.�.169- 1,958� 1,53,127		4,30,286 5,773 �',3�0�	3,94,496 5,359 3,99,855	5,26,783 7,184 5,33,967
J. -.	(a)Freight, hand ling and servicing costs (b)Employec benefts ex�nses (c)Finance costs (d)Depreciation and amortisation expense (e)Other expenses Total expenses Proft befre tax Tax expense Current Tax Adjustment of tax relati'!g to earlier years I periods t.�!!19. 18,169 726 _~~5,215~~ l�_.?61➔-· 1,42,490 10,637' 3,034 l,02i�L 18,807 704 5,!�� __}1,07l~~T~~ 1,38,554 8,195 2,-52	2�?3.L 18,100 474 -,726 11,031 1.30,064 10,S�-- 2,964l _(343)	3,0!,657 55,565 1�1�5- i?,�J� -�·313 4,10,_296 25,763_ • + 7,324	2,72,899 53,423 _yo� Q,2�� 30,365 3J7�,814 2_8,41 1,181 _(343)	3,63,659 70.781 l,?27 18,'25 40,596 4,95,688 38,279 9,693 (343)
	Deferred Tu (Credit) / Charge (309)	**(�7J). **		.(�62)	65
!. C. 7. 8. 9. IO.	Total tax expense Net Proft fr the period / year Other comprehensive income,net of income tax (a) Items that will not be recass�fed �o S_tatem_nt of Proft and Lo�s Actuarial (loss) arising from rercusu remcots of post emplorment b<ncfit obliiation Income tax relating to this item (b) Items that will be reclassifed to Statement of Proft and Loss Total other comprehensive income/ (loss) net of income tax Total comprehensive income, net of incom_e t_x Paid-up equity share capital (Face value t!O/- per share) Reserves excluding Revaluation Resere Earnings per shnre (on'I0/- each) (not annualised) 2,725 7,912 (868)� 211 (�50): �62_ 2,_373 6,076 2,373�	2,348 8,156 (1,810) 456 (��\ 6,802 2,373	6,622 19,1- (868) 218 (650) 18,-?1_ **_373. **	6,782 21,259 (1,810) 456	9,415 28,864 (1,888) 475 (1,413) 27,451 2,373 1,41,487
	(a) Basic 33.35 25.60	34.37	80.67	89.59	I 21.65
	b) Diluted 33.35 25.60	34.37	80.67	89.59	121.65

'\otc,:

• I. The financial results are prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (as amended), as prescribed under section 133 or the Companies Act, 2013 and other recognised accounting practices and policies as applicable.

2. The Company has only one operating segment, which is integrated air and ground transportation and distribution. All assets or the Company are domiciled in India and the Company earns its entire revenue from its operations in India.

• J. The Statutory Auditors have performed a limited review of the Company's financial results for the quarter and nine months ended December 31, 2024. There are no qualifications in the limited review report issued for the above period.

4. The above results were reviewed by the Audit Committee and were thereafter approved by the Boa,·d at its meeting held oo January 29, 2025.

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By Order of the Board l'or Blue Dart Express Limited

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) 0111c l'lacc

BLUE DART EXPRESS LIMITED

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Blue Dart Center, Sahar Airport Road, Andheri (East), Mumbai - 400 099, India Tel.: 022 • 69756444 CIN: L61074MH1991PLC061074 www.bluedart.com com mu nications@b!uedart.com

BLIIE DART EXPRESS LIMITED

	BLIIE DART EXPRESS LIMITED	BLIIE DART EXPRESS LIMITED	BLIIE DART EXPRESS LIMITED	BLIIE DART EXPRESS LIMITED	BLIIE DART EXPRESS LIMITED	BLIIE DART EXPRESS LIMITED	BLIIE DART EXPRESS LIMITED
	Regd. Ofce: Blue Dart Centre, Sahar Airport Road, Andhcri (East), Mumbai - 400 099. Tel: 69756444 Website: www.blucdart.com e-Mail id: communications@bluedarl.com CIN: L61074MH1991PLC061074 Statement of Unaudited Consolidated Financial Results for the Qu•rtcr and Nine llonths Ended December 31, 202-1							�i1/akhs)
			Quarter	Quarter	Quarter	Nine Months	Nine Months	Year
Sr No	Particulars		Ended 31/12/2024	Ended 30/09/2024	Ended 31/12/2023	Ended 31/12/2024	Ended 31/1212023	Ended 31/03/2024
			Unaudited}	Unaudited			Unaudited	Audited
1.	Income
	(a)Re.enue from operations (b)Other income Total income		1,51,169 1,1% 1,52,36S	1,4j,!46 867 1,45,713	1,38,293 2,'35 1,40,728	4,30,�86 2!971; 4,33,257	3,94,496 3,978 3,98,474	5,26,783 5,084 5,31,867
2.	Expenses
	(a)Freight, handling and sericing costs (b)Employcc benefts expenses (c)Finance costs		88,984 24,I09 2,061	85,134 24,735 2,080	80,376, 23,389, 1,967	2,52,244 72,840 6,236	2,28,009 68,073 5,870	3,03,206 90,710 7,806
	(d)Deprcciation and amortisation expense (e)Other expenses		12,132 14,153	12,101: 13,172	11,059 13,185	36,060 39,257	32,01S 35,731	43,286 47,589
3.	Total expenses Proft before tax		1,41,439 10,926	1,37,222 8,491	1,29,976 10,752	4,06,637 26,620	3,69,698 28,776	4,92,597 39,270
4.	T»x expense				l
	Current Tax		3,035	2,452	2,965	7,326	7,489	9,697
	Adjustment of tax relating to earlier years I periods				(906)_		(906)	(906)
	Deferred Tax (Credit) I Charge		(210)	(245)	(196)	(433)	(130)	378
S.	Total tax expense :ct Proft fr the period/ year		2,815 8,101	2,107 6,284	1,863 8,889	6,893 19,727	6,453 22,323	9,169 30,101
6.	Other comprehensive i ncomc, net of income tax
	(a)Items that will not be reclassifed to Statement of Proft and Loss Actuarial (loss) arising from rcmeasuremenls of post employment beneft obligation		(868)		(1,810)	(868)	(1,810)	(2,339)
	Income lax relating to this item		218		456	218	456	588
	(b) Items that will be reclassifed to Statement of Proft and Lo,s
	Total other comprehensive income / (loss) net of income tax		(650),		**(l,354), **	(650)	(1,354),	(1,751)
7.	Total cum prehensive income, net of income lax		7,451	6,284	7,535	19,077	20,969	28,350
8. '.	Paid-up equity share capital (Face value H 01- per share) Reseres excluding Revaluntion Resere		2,373	2,373	2,373	2,373	2,373	2,373 1,34,351
**10. **	l•:arnings per share (oHI0/- each) (not annualised)
	(ll)Bastc		34.14	26.49	37.46	83.14	94.08	126.86
	(b) Diluted		34.14	26.49	37.46	83.14	94.08	126.86

• I. The Consolidated Financial results include results of Blue Dari Express Limited and its wholly owned subsidiaries Blue Dart Aviation Limited and Concorde Air l.ogistks Limited (together referred to as the "Group") and are prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (as amended), "� prescribed under section 133 of the Companies Act, 2013 and other recognised accounting practices and policies as applicable.

2. The Group has only one operating segment, which is integrated air and ground transportation and distribution. All assets of the Group are domiciled in India and the Group earns its entire revenue from its operations in India.

3. The Statutory Auditors have performed a limited review of the Group's financial results for the quarter and nine months ended December 31, 2024. There are no qualifications in the limited review report issued for the above period.

4. The above results were reviewed by the .\udit Committee and were thereafter approved by the Board al its meeting held on January 29, 2025.

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J
Date : Janua
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By Order of the Board
For Blue Dart Express l.imited
Managing Director
DIN : 08416666
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Chartered Accountants One International Center Tower 3, 27th-32nd Floor Senapati Ba pat Marg Elphinstone Road (West) Mumbai-400 013 Maharashtra, India

Deloitte Haskins & Sells LLP

Tel: +91 22 6185 4000 Fax: +91 22 6185 4101

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM STANDALONE FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF BLUE DART EXPRESS LIMITED

1. We have reviewed the accompanying Statement of Standalone Unaudited Financial Results of BLUE DART EXPRESS LIMITED ("the Company"), for the quarter and nine months ended December 31, 2024 ("the Statement"), being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("the Listing Regulations").

2. This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review.

3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity', issued by the Institute of Chartered Accountants of India (!CAI). A review of interim financial information consists of making inquiries, primarily of the Company's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

4. Based on our review conducted as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as

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Regd. Office: One International Center, Tower 3, 32nd floor, Senapati Bapat Marg, Elphinstone Road (West), Mumbai-400 013, Maharashtra, India. Deloitte Haskins & Sells LLP is registered with Limited Liability having LLP identification No: AAB-8737

Deloitte Haskins & Sells LLP

amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For DELOITTE HASKINS & SELLS LLP Chartered Accountants (Firm's Registration No. 117366W/W-100018)

� 9-[vv][av.][ )][C][a..1<.__] Sampada S Narvankar (Partner) (Membership No. 102911) UDIN: 2..S/O:Z-91) g� O(QbUS'0'=,4

Place: Mumbai Date: January 29, 2025

			BLUE DART EXPRESS LIMITED Regd. Office : Blue Dart Centre, Sahar Airport Road, Andheri(East), Mumbai - 400 099.	BLUE DART EXPRESS LIMITED Regd. Office : Blue Dart Centre, Sahar Airport Road, Andheri(East), Mumbai - 400 099.	BLUE DART EXPRESS LIMITED Regd. Office : Blue Dart Centre, Sahar Airport Road, Andheri(East), Mumbai - 400 099.	BLUE DART EXPRESS LIMITED Regd. Office : Blue Dart Centre, Sahar Airport Road, Andheri(East), Mumbai - 400 099.
			Tel :69756444 Website: www.bluedart.com		e-Mail id : communications@bluedart.com CIN: L61074MH1991PLC061074 (�in lakhs)
			Statement of Unaudited Standalone Finan		cial Results fr theQuarter and Nine Months Ended December 31, 2024
Sr N 1. 2. 3. 4. 5. 6. 7.	Particulars o					Quarter Quarter Quarter Nine Months1 Nine Months! Year Ended Ended Ended Ended I Ended Ended 31/12/2024 30/09/2024 131/12/2023 31/12/2024 31/12/2023I 31/03/2024 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited)
	Income
	(a)Revenue		from operations			1,51,169 1,44,846 1,38,293 4,30,286 3,94,496 5,26,783
	(b )Other income Total income Expenses (a)Freight, handling and servicing costs (b)Employee benefits expenses	inc	ome			1,958 1,903 2,275 5,773 5,359 7,184
			e			1,53,127 1,46,749 1,40,568 4,36,059 3,99,855 5,33,967
						~~-~~ ~~I~~ ~~I~~
						1,06,119 1,02,780 95,733 3,03,657 2,72,899 3,63,659 18,169 18,807 18,100 55,565 53,423 70,781
	(c)Finance costs (d)Depreciation and amortisation expense (e)Other expenses Total expenses					726 704 474 2,125 1,402 1,927 5,215 5,192 4,726 15,636 13,725 18,725 12,261 11,071 11,031 33,313 30,365 40,596
						1,42,490 1,38,554 1,30,064 4,10,296 3,71,814 4,95,688 10,637 8,195 10,504 25,763 28,041 38,279
	Profit befre tax Tax expense Current Tax Adjustment of tax relating to earlier years / periods Deferred Tax (Credit) / Charge Total tax expense Net Profit fr the period / year Other comprehensive income, net of income tax	**fre tax **
						3,034 2,452 2,964 7,324 7,487 9,693
						~~-~~ ~~-~~ (343) ~~-~~ (343) (343) (309) (333) (273) (702) (362) 65 2,725 2,119 2,348 6,622 6,782 9,415 7,912 6,076 8,156 19,141 21,259 28,864
	(a) Items that will not be reclassified to Statement of Profit and Loss Actuarial (loss) arising from remeasurements of post employment Income tax relating to this item (b) Items that will be reclassifed to Statement of Profit and Loss Total other comprehensive income /(loss) net of income tax				benefit obligation	(868) - I (1,810) (868) (1,810) (1,888) 218 - 456 218 456 475
						~~-~~ ~~-~~ ~~-~~ ~~-~~ ~~-~~ ~~-~~ (650) - (1,354) (650) (1,354) (1,413)
	Total comprehensive income, net of income tax					7,262 6,076 6,802 18,491 19,905 27,451
8. 9. IO.	Paid-up equity share capital (Face value flO/- per share) Reserves excluding Revaluation Reserve Earnings per share(off IO/- each) (not annualised) (a) Basic					2,373 2,373 2,373 2,373 2,373 2,373 1,41,487
						33.35 25.60 34.37 80.67 89.59 121.65 33.35 25.60 34.37 80.67 89.59 121.65
	(b) Diluted

Notes:

1. The financial results are prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (as amended), as prescribed under section 133 of the Companies Act, 2013 and other recognised accounting practices and policies as applicable.

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2. The Company has only one operating segment, which is integrated air and ground transportation and distribution. All assets of the Company are domiciled in India and
the Company earns its entire revenue from its operations in India.
3. The Statutory Auditors have performed a limited review of the Company's financial results for the quarter and nine months ended December 31, 2024. There are no
qualifications in the limited review report issued for the above period.
By Order of the Board
For Blue Dart Express Limited
�
Date : January 29, 0 Managing Director
Place : Mumbai DIN : 08416666
4. The above results were reviewed by the Audit Committee and were thereafter approved by the Board at its meeting held on January 29, 2025.
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Cha rte red Accountants One International Center Tower 3, 27th-32nd Floor Senapati Ba pat Marg Elphinstone Road (West) Mumbai-400 013 Maharashtra, India

Deloitte Haskins & Sells LLP

Tel: +91 22 6185 4000 Fax: +91226185 4101

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM CONSOLIDATED FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF BLUE DART EXPRESS LIMITED

1. We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results of BLUE DART EXPRESS LIMITED ("the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group"), for the quarter and nine months ended December 31, 2024 ("the Statement") being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("the Listing Regulations").

2. This Statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review.

3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India (ICAI). A review of interim financial information consists of making inquiries, primarily of Parent's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under Section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

4. The Statement includes the results of the following entities:

Parent:

Blue Dart Express Limited

Subsidiaries:

Blue Dart Aviation Limited Concorde Air Logistics Limited

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Regd. Office: One International Center, Tower 3, 32nd floor, Senapati Bapat Marg, Elphinstone Road (West), Mumbai-400 013, Maharashtra, India. Deloitte Haskins & Sells LLP is registered with Limited Liability having LLP identification No: AAB-8737

Deloitte Haskins & Sells LLP

1. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For DELOITTE HASKINS & SELLS LLP Chartered Accountants

Place: Mumbai Date: January 29, 2025

(Firm's Registration No 66W/W-100018) -[n] �vva� l---sa'mpada S Narvankar Partner (Membership No. 102911) UDIN: .25/0�9) IBM06:/J)V3177

BLUE DART EXPRESS LIMITED

Regd. Office : Blue Dart Centre, Sahar Airport Road, Andheri (East), Mumbai - 400 099.

BLUE DART EXPRESS LIMITED Regd. Offce : Blue Dart Centre, Sahar Airport Road, Andheri(East), Mumbai - 400 099.	BLUE DART EXPRESS LIMITED Regd. Offce : Blue Dart Centre, Sahar Airport Road, Andheri(East), Mumbai - 400 099.	BLUE DART EXPRESS LIMITED Regd. Offce : Blue Dart Centre, Sahar Airport Road, Andheri(East), Mumbai - 400 099.	BLUE DART EXPRESS LIMITED Regd. Offce : Blue Dart Centre, Sahar Airport Road, Andheri(East), Mumbai - 400 099.	BLUE DART EXPRESS LIMITED Regd. Offce : Blue Dart Centre, Sahar Airport Road, Andheri(East), Mumbai - 400 099.
Tel: 69756444 Website: www.bluedart.com e-Mail id : communications@bluedart.com CIN: L61074MH1991PLC061074 (�in lakhs) Statement of Unaudited Consolidated Financial Results fr theQuarter and Nine Months Ended December 31, 2024
Sr No			Particulars	Quarter~~I~~Quarter Quarter Nine MonthsNine Months Year EndedI Ended Ended Ended Ended Ended 31/12/2024 30/09/202431/12/2023 31/12/2024 31/12/2023 31/03/2024 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited)
1.			Income	~~I~~ 1,51,169 1,44,846 1,38,293 4,30,286 3,94,496 5,26,783 1,196I 867 2,435 2,971 3,978 5,084
			(a)Revenue from operations
			(b )Other income
			Total income	1,52,365 1,45,713 1,40,728 4,33,257 3,98,474 5,31,867
2.			Expenses
3. 4.			(a)Freight, handling and servicing costs {b)Employee benefts expenses (c)Finance costs	88,984 85,134 80,376 2,52,244 2,28,009 3,03,206 24,109 24,735 23,389 72,840 68,073 90,710 2,061 2,080 1,967 6,236 5,870 7,806
			(d)Depreciation and amortisation expense (e)Other expenses Total expenses Profit before tax Tax expense Current Tax	12,132I 12,101 11,059 36,060 32,015 43,286 14,153 13,172 13,185 39,257 35,731 47,589 1,41,439 1,37,222 1,29,976 4,06,637 3,69,698 4,92,597 10,926 8,491 10,752 26,620 28,776 39,270
				3,035 2,452 2,965 7,326 7,489 9,697
			Adjustment of tax relating to earlieryears /periods	~~-~~ ~~-~~ (906) ~~-~~ (906) (906)
			**Deferred Tax(Credit) / Charge **	(210) (245), (196) (433) (130) 378
			Total tax expense	2,825 2,201~~I~~ 1,863I 6,893 6,453 9,169
5. 6.			Net Profit fr theperiod /year	8,101I 6,284 8,889 19,727I 22,323~~I~~ 30,101
			Other comprehensive income, net of income tax	~~I~~ I I ~~I~~
			(a) Items that will not be reclassified to Statement of Profit and Loss
			Actuarial (loss) arising from remeasurements of post employment benefit obligation Income tax relating to this item	(868) ~~-~~ (1,810) (868) (1,810) (2,339) 218 - I 456I 218 456~~I~~ 588
			(b) Items that will be reclassified to Statement of Profit and Loss	~~-~~ ~~-~~ ~~-~~ ~~- I~~ ~~-~~ I ~~-~~
7. 8. 9. 10.			Total other comprehensive income / (loss) net of income tax Total comprehensive income, net of income tax	(650) ~~-~~ ~~I~~ (1,354) (650) (1,354) (1,751) 7,451I 6,284 7,535 19,077 20,969 28,350
			Paid-up equity share capital(Face value tlO/-per share)	2,373 2,373 2,373 2,373 2,373I 2,373
			Reserves excluding Revaluation Reserve Earnings per share(of tlO/- each) (not annualised)	I 1,34,351 I I
			(a) Basic	34.14 26.49I 37.46 83.14 94.08 126.86
			(b) Diluted	34.14 26.49I 37.46 83.14 94.08~~I~~ 126.86
Notes:
1.The Consolidated Financial results include results of Blue Dart Express Limited and its wholly owned subsidiaries Blue Dart Aviation Limited and Concorde Air Logistics Limited (together referred to as the "Group") and are prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (as amended), as prescribed under section 133 of the Companies Act, 2013 and other recognised accounting practices and policies as applicable. 2.The Group has only one operating segment, which is integrated air and ground transportation and distribution. All assets of the Group are domiciled in India and the Group earns its entire revenue from its operations in India. 3.The Statutory Auditors have performed a limited review of the Group's financial results for the quarter and nine months ended December 31, 2024. There are no qualifications in the limited review report issued fr the above period. 4.The above results were reviewed by the Audit Committee and were thereafter approved by the Board at its meeting held on January 29, 2025.

Logistics Limited (together referred to as the "Group") and are prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (as amended), as prescribed under section 133 of the Companies Act, 2013 and other recognised accounting practices and policies as applicable. 1. The Consolidated Financial results include results of Blue Dart Express Limited and its wholly owned subsidiaries Blue Dart Aviation Limited and Concorde Air

2. The Group has only one operating segment, which is integrated air and ground transportation and distribution. All assets of the Group are domiciled in India and the Group earns its entire revenue from its operations in India.

qualifications in the limited review report issued for the above period. 3. The Statutory Auditors have performed a limited review of the Group's financial results for the quarter and nine months ended December 31, 2024. There are no

4. The above results were reviewed by the Audit Committee and were thereafter approved by the Board at its meeting held on January 29, 2025.

By Order of the Board For Blue Dart Express Limited Managing Director t-f DIN : 08416666

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BLUE DART EXPRESS LIMITED

Regd. Office : Blue Dart Centre, Sahar Airport Road, Andheri (East), Mumbai - 400 099. Tel : 69756444 Website : www.bluedart.com e-Mail id : communications@bluedart.com CIN : L61074MH1991PLC061074

B. Statement on deviation or variation for proceeds of public issue, rights Issue, preferential issue, qualified institutions placement etc - Not Applicable

C. Format for disclosing outstanding default on loans and debt securities :

Sr. No. Particulars	Sr. No. Particulars	₹ in lakhs
1.	Loans / revolving facilities like cash credit from banks / financial institutions
A.	Total amount outstandingas on date	Nil
B.	Of the total amount outstanding,amount of default as on date	Nil
2.	Unlisted debt securities i.e. NCDs and NCRPS
A.	Total amount outstandingas on date	Nil
B.	Of the total amount outstanding,amount of default as on date	Nil
3.	Total financial indebtedness of the listed entity including short-term and long-term debt	Nil

D. Format for disclosure of related party transactions (applicable only for half-yearly filings i.e., 2nd and 4th quarter) - Not Applicable

E. Statement on impact of audit qualifications (for audit report with modified opinion) submitted along with annual audited financial results (standalone and consolidated separately) (applicable only for annual filing i.e., 4th quarter) - Not Applicable

BlUE DART - .:PH£

Press Release

Blue Dart's Quarter 3 Sales at if 15,117 Million

Mumbai, January 29, 2025: Blue Dart Express Limited, South Asia's leading express air, integrated transportation, and distribution logistics company, announced its financial results today for the quarter ended December 31, 2024, at the Board Meeting held in Mumbai.

The company posted a profit after tax of� 791 million for the quarter ended December 31, 2024. Revenue from operations for the quarter stood at� 15,117 million.

Reflecting on the company's performance, Balfour Manuel, Managing Director, Blue Dart Express Ltd., said, "Our 03 performance reflects the resilience and adaptability of our diverse B2B & B2C solutions. This quarter's achievements highlight our ability to navigate market dynamics effectively, leveraging disciplined execution and operational excellence. We continue to deliver consistent growth and long-term value, reinforcing our role as a trusted partner for all stakeholders."

Discussing the business outlook, he emphasized, "We remain focused on building a future-ready logistics ecosystem by investing in sustainability, scalability, and service excellence. Our strategic initiatives focus on enhancing efficiency and environmental responsibility, enabling us to deliver seamless and reliable solutions. These efforts reinforce our position as the logistics provider of choice for the nation, meeting India's evolving logistics needs."

Blue Dart's exceptional service quality, supported by automation and technology, continues to provide customers with seamless, one-stop logistics solutions. Building on its legacy of leadership, innovation, and customer-centricity, Blue Dart is accelerating sustainable growth through strategic initiatives that capitalize on structural tailwinds in key markets and industries. The company's positive outlook highlights its drive to enhance market presence and increase customer engagement across its portfolio, delivering exceptional value to its partners. Recently recognized as India's Top Value Creator 2024 in the transport and logistics category, Blue Dart reaffirms its commitment to operational excellence and its position as the nation's leading trade enabler.

About Blue Dart Express Ltd:

Blue Dart Express Ltd., South Asia's premier express air and integrated transportation & distribution company, offers secure and reliable delivery of consignments to over 56,000+ locations in India. Blue Dart is a provider of choice for its stakeholders due to its customer centric approach and aims to further strengthen this partnership. As part of OHL Group's OHL eCommerce division, Blue Dart accesses the largest and most comprehensive express anct logistics network worldwide, covering over 220 countries and territories, and offers an enHre

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spectrum of distribution services including air express, freight forwarding, supply chain solutions, customs clearance etc.

The Blue Dart team drives market leadership through its motivated people, dedicated air and ground capacity, cutting-edge technology, wide range of innovative, vertical specific products and value-added services to deliver unmatched standards of service quality to its customers. Blue Dart's market leadership is further validated by its position as the nation's most innovative and awarded express logistics company for exhibiting reliability, superior brand experience and sustainability which include recognition as one of 'India's Best Companies to Work For' by The Great Place to Work[® ] Institute, India, ranked amongst 'Best Multinational Workplaces in Asia' by The Great Place to Work[® ] Institute, Asia, voted a 'Superbrand' and 'Reader's Digest Most Trusted Brand', listed as one of Fortune SOO's 'India's Largest Corporations' and Forbes 'India's Super SO Companies' to name a few. Blue Dart's Diversity and Inclusion initiatives have also led to it being recognized as one of India's 'Best Workplaces for Women' in 2021 and 'Best Organisations for Women' in 2022 by the Economic Times.

Blue Dart fulfils its social responsibility of climate protection (GoGreen[)] , disaster management (GoHelp) and education (Go Teach) through its GoPrograms.

For more information, please contact:

Blue Dart Express Deepika Jagasia Manager - Corporate Communications & Sustainabilit[y ] dee[p] ika[j@] bluedart.com

Perfect Relations Pvt. Ltd Rachna Prakash Associate Manager

rachana. prakash[@] d entsu .com

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CERTIFIED TRUE COPY

/7) - - - TtlS'tlAII euNDl!RIA HEAD (LEGAL a COMltLIANCE) & COMPANY SECRETARY For BLUE DART EXPRI I LTD.