Shares of Blue Dart Express slumped about 5 percent on July 28 after the company’s poor performance in the June quarter disappointed investors. Consolidated revenue fell 4 percent YoY to Rs 1,237.55 crore whereas net profit declined 48 percent to Rs 61.28 crore in the quarter ended June. The company has only one operating segment, which is the integrated air and ground transportation and distribution.
Operating margin shrunk to 15.40 percent from 20.66 percent a year ago, weighed by a surge in other expenses and higher depreciation and amortization expenses.
At 10:18 am, shares of the company were trading 4 percent lower at Rs 6,966.70 on the BSE.
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“We have prioritised capacity creation through the induction of the two new aircrafts, embraced automation and digitalisation to enhance our infrastructure, and expanded our market reach through retail expansion,” said Balfour Manuel, Managing Director of Blue Dart Express.
The premier express air and integrated transportation and distribution company said it will continue to focus on strategic investments and sustainable growth.
The company carried 84 million shipments weighing 285,625 tonnes during the June quarter. This is in comparison to last year’s 77 million shipments weighing 278,393 tonnes.
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