Blue Dart Express' consolidated net profit at Rs118.79 crore in June quarter

28 Jul 2022 , 08:12 AM

An increase in consolidated profit after tax of more than three times as much, or Rs118.79 crore, was recorded by logistics service provider Blue Dart Express on Wednesday compared to the same quarter a year earlier.

According to a statement released by Blue Dart, the firm reported a combined PAT (Profit After Tax) for the quarter ending June 2021 of Rs31.3 crore. According to Blue Dart, the income from operations for the reporting period totaled Rs1,293.3, up 49.3% from the Rs866.2 crore tallied in the first quarter of FY22.

Earnings Before Interest, Taxes, Depreciation, and Amortization, or EBITDA, increased by 125% year over year to Rs201 crore in the current fiscal quarter, the company reported. The EBITDA margin was 15.5%. Crude prices fluctuated during the quarter as a result of the ongoing geopolitical crisis, but the fuel surcharge system lessened their effects, it added.

According to the corporation, the second wave of the Covid pandemic from the prior year has a reduced base effect on the top line growth during the quarter. In response to development potential and the need for more capacity, Blue Dart stated it has started making plans to extend its network.

The company added that in order to meet the predicted rise in demand, it plans to add two Boeing 737-800 freighters during this fiscal year and is also increasing its ground centre and network. According to Balfour Manuel, managing director of Blue Dart, “Our fleet expansion will broaden our geographic reach and increase our capacity to fulfill existing and projected demand across sectors.”