Blue Dart Express profit rises over three-fold to Rs 119 crore in April-June

Mumbai: Logistics service provider Blue Dart Express on Wednesday reported more than three-fold jump in consolidated profit after tax at Rs 118.79 crore in April-June 2022 quarter over the same period a year ago.

The company had posted a consolidated PAT (Profit After Tax) of Rs 31.3 crore in the quarter ended June 2021, Blue Dart said in a statement.

The revenue from operations during the reporting quarter was Rs 1,293.3, registering a 49.3 per cent growth from Rs 866.2 crore clocked in the first quarter of FY22, Blue Dart said.

EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) for the quarter grew 125 per cent year-on-year at Rs 201 crore in June quarter of the current fiscal, while EBITDA margin stood at 15.5 per cent, it said.

Continuing geopolitical situation during the quarter resulted in volatility in crude prices, but the fuel surcharge mechanism helped in minimising the impact of fuel price fluctuations, it said.

The top line growth during the quarter also has a lower base effect on account of the second wave of the Covid pandemic during previous year, the company said.

Blue Dart said it has initiated plans to expand its network amid growth opportunities and demand for higher capacities.

To cater to increased demand, the company is looking to add two Boeing 737-800 freighter aircraft during this fiscal and is expanding its ground hub and network to handle expected growth in volumes, it said.

"Our fleet expansion will enhance our geographical reach and widen our capacity to service current and potential demand across industries," said Balfour Manuel, managing director, Blue Dart.