Tag: India

Blue Dart Revenue up at 240.64 Crores.

Posted by | Apr 24, 2008 | |

Blue Dart Express Limited declared its financial results for the first quarter ended March 31, 2008 at its Board Meeting held in Mumbai.

Income from operations for the 1st quarter 2008 was Rs. 239.70 Crores, an increase of 31.95 pct over the corresponding quarter of the previous year. The company posted Rs. 45.66 Crore profit before tax for the quarter ended March 31, 2008, as compared to Rs. 23.43 Crore for the quarter ended March 31, 2007.

Speaking on the occasion, Anil Khanna, Managing Director, Blue Dart Express Ltd said “Blue Dart in its 25th year of operations stands committed to its role of a trade facilitator. We have over the years built our differentiation on the fundamentals of service excellence and customer centricity. We serve a loyal customer base and our results are a confirmation of our customer’s trust in us and of our commitment to serve their business.”

He further added “With the reinforcement of our ground express product ‘Dart Surfaceline’ last year, we have now expanded our reach to over 20,843 locations across the country. Today, we are the only service provider with a distinctive capability to offer the entire gamut of express distribution solutions.”

1 USD = 40.1158 INR

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DHL in talks with India Post

Posted by | Apr 15, 2008 | |

DHL and state-run India Post are said to be in negotiations to form some type of joint venture that would allow DHL access to India Post’s huge distribution footprint reaching across the entire country, according to Indian media reports.

In exchange for this delivery network, India Post would benefi t from DHL’s technological and organisational capabilities. Although DHL already has a very signifi cant presence in the market through its ownership of air express operator Blue Dart, its network is confi ned to urban areas. Nor does Blue Dart have a presence in the North East of the country.

While the fast growing Indian market has piqued the interest of all the major integrators, the market’s immaturity presents signifi cant risks, especially its regulatory regime.

There are presently plans being discussed by the Indian government to regulate all courier and express operators as well as impose a double-tax on them to fund the Universal Service Obligation (USO) of the Department of Posts.

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DHL India fears slump in business

Posted by | Apr 7, 2008 | |

DHL India is worried about getting hammered by an impending slowdown in certain sectors and the economic slump in the US.

Sectors such as textiles, apparel and leather have already shown a downturn in shipments.

“There has been a general slowdown which is not only because of rupee appreciation. However, the impact of the US recession will be indirect,” said Chandrakant Pitre, national marketing head, DHL Express India Pvt Ltd.

Pitre was in the city to inaugurate a 16,431-square-foot service centre, which will handle over 1,110 inbound and outbound shipments a day, weighing more than 1.3 tonnes.

Pitre said clients preferred the freight mode of delivery these days, which takes longer to deliver but costs less than the express mode, affecting the business of logistics firms.

However, DHL expects sectors such as pharma, auto, electronics and high-end products — all of which are on the upswing — to add to its coffers.

DHL will also rely on the presence of Blue Dart, in which it has an 81 per cent stake, to bolster its presence in the country.

According to industry estimates, the Indian logistics market is expected to reach USD 122 billion by 2015 from USD 45 billion now. Logistics costs in India are 13 per cent of its GDP compared with 11 per cent in Japan, 10 per cent in Europe and 9 per cent in the US.

DHL has invested around USD 300 million in the country in the past four years, including USD 163 million for an 81.03 per cent stake in Mumbai-based Blue Dart Express.

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DHL sets up service centre in Kolkata

Posted by | Apr 7, 2008 | |

DHL has launched a 16,431 sq ft service centre in Kolkata which will handle daily more than 1,110 inbound and outbound shipments, weighing more than 1.3 tonnes.

Kolkata, strategically located between India and Bangladesh, could emerge as an important trading bloc within India and South Asia, said Craig Grossgart, vice-president, India, DHL Express.

DHL also plans to launch a facility aimed at providing smooth shipment to India’s neighbouring countries, Grossgart said. “SAARC (South Asian Association for Regional Cooperation) is a big opportunity for us and we will look at launching a multimode transport system between the SAARC countries,” he said.

The scheme is currently in the pilot stage and the company plans to launch it by next month. The launch will reduce the transit time and also cut down costs significantly.

“Our costs will come down by 20 per cent and we will look at passing it on to our customers,” Grossgart said.

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India Postal Department to launch foreign exchange service

Posted by | Apr 2, 2008 | |

As part of diversification, the Postal Department is foraying into the foreign exchange sector.

Four foreign exchange counters will be opened at the major post offices in four districts this month. It will be part of the 30 foreign exchange units being opened by the Postal Department across the country.

The foreign exchange counters in the state will be at the General Post Office at Pulimoodu in Thiruvananthapuram and at the head post offices at Ernakulam, Thrissur and Kozhikode, Postal Services director Mervin Alexander told this website’s newspaper.

“Work on starting the counters is going on and we hope to inaugurate them this month itself,” he said.

Among the 30 counters spread in ten states, three had already started functioning at New Delhi and are receiving good response, he said.

“Initially we are only providing currency exchange and travellers’ cheque encashing services. Our main target will be foreign tourists. After knowing the response, more counters will be opened and more services will be offered,” he said.

The Postal Department, which already had money changing services licence of the Reserve Bank of India, is launching the service in association with the Centurion Bank of Punjab. A memorandum of understanding was signed between the department and the bank at the national- level recently. The bank will provide the back office support for the counters and training to the Postal Department staff, Mervin said.

The Postal Department is already carrying out Western Union Money Transfer Services. More than 50 percent of Western Union Money Transfer Services are being done through the Postal Department.

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