Blue Dart Express Q1 PAT jumps 280% YoY

28 Jul 2022 , 11:47 AM

The logistics services providers profit before tax (PBT) soared 282% year on year to Rs 158.96 crore in the quarter ended 30 June 2022. Total expenses rose 37.28% to Rs 1,141.09 crore and employee benefits expenses were up 11.9% to Rs 215.92 crore in Q1 FY23 over Q1 FY22. The company said it delivered Healthy top-line growth together with its journey of automation and digitalization to improve speed, transparency and efficiency helped the company to improve its margin during the quarter. With improved cash flows due to better receivable management, the company continues to remain debt free. The company said that it would continue to add more freighters by expanding its network into Tier II cities based on load factors. It will also expand its ground hub and network to handle expected growth in volumes. The company added that the company has witnessed healthy volume growth during the quarter and carried 77.08 million shipments (last year 51.22 million shipments) comprising of 278,393 tonnes (last year 184,431 tonnes). Blue Dart Express managing director Balfour Manuel said: ?While we continue to maintain a positive outlook we are also cautiously optimistic about what the future holds. We will continue our succinct focus on keeping a People First and Safety First approach while providing a best in class service to our stakeholders.? ?Our fleet expansion will enhance our geographical reach and widen our capacity to service current and potential demand across industries. Moreover, our key growth levers for the upcoming year will revolve around leveraging the power of technology & digitalisation to provide sustainable logistic solutions with a deep focus on carbon sequestration?, Manuel added. Blue Dart Express is South Asias premier express air and integrated transportation & distribution company. Shares of Blue Dart Express rose 0.24% to Rs 8,327.95 on the BSE. Powered by Capital Market – Live News