On a consolidated basis, adjusted net profit fell 14.08% to Rs 27.51 crore on 0.02% increase in net sales to Rs 857.86 crore in Q3 December 2019 over Q3 December 2018.

The Q3 results was released after trading hours on Friday, 17 January 2020. Ahead of the results, shares of Blue Dart Express rose 0.48% to end at Rs 2,665.80 on Friday.

The company accounted an exceptional item of Rs 64.11 crore during the quarter. With an intention to create long term value for its stakeholders, management of the company conducted an organisation right sizing exercise which has a impact of Rs 46.09 crore on the Q3 result. The management further decided to discontinue certain business activities and change the operating software for certain business function and accordingly the net book value of related assets aggregating to Rs 18.02 crore has been written down.

Effective 1 April 2019, Blue Dart has adopted the Ind AS 116 new accounting standard due to which there is higher impact on profit as these are long term leases related to air infrastructure.

Commenting on company's Q3 performance, Balfour Manuel, the managing director of Blue Dart Express, has stated, "While GDP growth has been revised from 6.1% to 5% for 2019-20, with our clear focus on service quality and cost efficiencies we are mitigating the challenging situation reasonably well. In our endeavor to build better future for Blue Dart, the Company has undertaken organization right sizing exercise for long term value creation for stakeholders. Our customers will always be at the center of our business and hence we will continue to invest to enhance our infrastructure and technological capabilities to stay relevant to their needs."

Blue Dart Express is engaged in the business of integrated air and ground transportation and distribution of time sensitive packages to various destinations, primarily within India. The company provides courier and express services.