Blue Dart announces general price increase from January 1, 2023; stock zooms 2.5%

29 Sep 2022 , 09:19 AM

Blue Dart Express Limited, announced its General Price Increase (GPI) which will take effect on January 1, 2023.

Depending on the shipping profile, the average shipment price increase in 2022 will be 9.6%.

Blue Dart is recognised as a market leader in future-ready solutions with great service quality; these standards are also used as a benchmark by the industry’s express logistics providers.

Blue Dart adjusts its prices annually in order to consistently provide a resilient, reliable, and efficient solution to its customers, taking into account inflation, currency dynamics, fuel cost instabilities, growing regulatory costs, and other mandatory costs, such as expenses related to workforce compliance with enhanced security regulations across the 55,000+ locations it services.

High inflation, rising interest rates, and high input prices have all taken a toll on the company’s profitability. Small GDP growth, and poor recovery due to global supply chain obstacles, all need a marginal price rise. ‘Ship To Profile’ will be a new derivative idea offered to help high-volume shippers while also correcting rates for other shippers.

Blue Dart has also been aggressively investing in expanding its presence in emerging regions, reducing transit times, renovating infrastructure, and developing future technology, said the company in its media release.

Blue Dart is making these strategic expenditures in order to get a first-mover advantage while being nimble and adaptable.

At around 9.22 AM, Blue Dart Express was trading at Rs8,779.15 per piece, up by 2.37% from its previous closing of Rs8,576.20 on the BSE. The scrip opened at Rs8,740 and touched intraday high and low of Rs8,881 and Rs8,711.05 respectively.

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