Blue Dart Q2FY23 PAT up 3.4% yoy at Rs93.64 crore as higher costs of operations put pressure on profits

29 Oct 2022 , 09:06 AM

Blue Dart Ltd reported 17.95% growth in total revenues for the September 2022 quarter on consolidated basis at Rs1,325cr.

Revenue increase was 2.47% in sequential terms. The logistics business has seen a sharp recovery in the last few quarters as businesses got back to normal mode. Also, with offices getting back to physical mode, there is an increase in the demand for business related logistics services.

All these have been instrumental in helping Blue Dart report higher sales revenues in the quarter on a comparable yoy basis.

Consolidated Profit after tax (PAT) for September 2022 quarter was up 3.41% at Rs93.64 crore and it was down -21.2% on sequential basis.

The operating profits took a hit on higher cost, especially of fuel and movement of goods, which is core to the profits of Blue Dart.

Also, in the competitive logistics industry, the cost of manpower has also gone up sharply in the last few quarters, which is reflected in pressure on profit growth.

Net profit margins at 7.07% in Q2FY23 is lower compared to 8.06% in Q1FY22 and lower than 9.18% in Q1FY23.

Financial highlights for Sep-22 compared yoy and sequentially

	Blue Dart
Rs in Crore	Sep-22	Sep-21	YOY	Jun-22	QOQ
Total Income (Rs cr)	₹ 1,325.28	₹ 1,123.61	17.95%	₹ 1,293.31	2.47%
Net Profit (Rs cr)	₹ 93.64	₹ 90.55	3.41%	₹ 118.79	-21.17%
Diluted EPS (Rs)	₹ 39.47	₹ 38.16		₹ 50.06
Net Margins	7.07%	8.06%		9.18%