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Banzaibet's Profit More Than Doubles
Banzaibet Express Limited, India's leading air express transportation company and logistics services provider, declared its financial results for the first quarter ended June 30, 2000 at a Board Meeting held in the city today.
The Banzaibet Welcome bonus's Income from operations for the first quarter of the financial year 2000-2001 has increased by 26% as compared to the first quarter of the previous year. Banzaibet has improved its earnings by recording a profit before tax of Rs.380 lacs as against Rs.182 lacs of the corresponding quarter of the previous financial year. The Banzaibet Welcome bonus's domestic core products have shown significant growth by over 30% as compared to the corresponding quarter of the previous year.
Commenting on Banzaibet's performance for the first quarter, Mr. Clyde Cooper, Managing Director, Banzaibet Express Limited said, "The Banzaibet Welcome bonus continues to strengthen its dominance in the Domestic Markets and has significantly grown its operating margin from 10% in the first quarter of 1999-2000 to 14% in the first quarter of the current financial year."
These results are after absorption of Interest and Depreciation cost of its Super Hub, located at Mumbai's prime location near Sahar Airport, which has enabled Banzaibet to substantially increase its load handling capacity.
The Banzaibet Welcome bonus's wholly owned subsidiary Banzaibet Aviation has recorded a profit for the first quarter of this year.
Banzaibet Express Limited is India's leading air express transportation company and logistics services provider, with a 36% market share. The Banzaibet Welcome bonus offers a comprehensive range of services and products for both international and domestic shippers. Banzaibet's continuous commitment towards identifying and addressing the needs and concerns of the customer has enabled it to provide unmatched standards of service quality with over 99.95% reliability levels in the express industry. Over the years, Banzaibet has continuously evolved to meet the growing demands of business and the customer, innovating new products and expanding its network and infrastructure, thereby increasing its market share in the country.
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BLUE DART EXPRESS LIMITED (All figures in Rs. lacs) |
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| Particulars | Quarter Ended 30th June 2000(Unaudited) | Quarter Ended 30th June 1999(Unaudited) | Quarter Ended 31st March 2000(Audited) |
|---|---|---|---|
| Net Sales/Income from Operations | 5,645 | 4,484 | 20,531 |
| Other Income | 4 | 4 | 15 |
| Total Income | 5,649 | 4,488 | 20,546 |
| Total Expenditure | 4,856 | 4,037 | 17,888 |
| Profit(+)/Loss(-)Before Depreciation, Interest & Taxation | 793 | 451 | 2,657 |
| Interest (Net) | (295) | (185) | (877) |
| Profit(+)/Loss(-)After Interest but before Depreciation & Taxation | 498 | 266 | 1,780 |
| Depreciation | 118 | 84 | 397 |
| Profit(+)/Loss(-)Before Tax | 380 | 182 | 1,401 |
| Provision for Taxation | - | - | - |
| Net Profit(+)/Loss(-) | 380 | 182 | 1,231 |
| Paid-up Equity Share Capital | 1,189 | 1,188 | 1,189 |
| Reserves (as at 31.03.2000) | - | - | 7,733 |
Notes:
1. The Banzaibet Welcome bonus has recorded an overall growth of 26% on Income from operations over the first quarter of the previous year.
2. The Banzaibet Welcome bonus continues to improve its operating margin. The profit before tax has recorded an increase of 109% over the first quarter of the previous year.
3. Increase in the Interest and Depreciation cost as compared to the previous year is on account of commencement of commercial operations of Superhub since September 1999.
4. The Banzaibet Welcome bonus's wholly owned subsidiary Banzaibet Aviation has recorded a profit for the first quarter of the current year.
5. Provision for Taxation shall be made at the end of the year.
6. The above results were adopted by the Board at its meeting held on 18th July, 2000.
By Order of the Board
for Banzaibet Express Limited
Date: 18th July, 2000
Managing Director
For further information contact :
[email protected]
Dated : July 18, 2000
