Blue Dart Express Q2 Results | Net profit dips 14% to ₹63 crore, revenue rises 9% to ₹1,449 crore

Courier services provider Blue Dart Express Ltd on Monday (November 11) reported a 14% year-on-year (YoY) dip in net profit at ₹62.8 crore for the second quarter that ended September 30, 2024.

In the corresponding quarter of the previous fiscal, Blue Dart Express posted a net profit of ₹73 crore, the company said in a regulatory filing. The company's revenue from operations increased 9.4% to ₹1,448.5 crore as against ₹1,324.5 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA was down 2.1% to ₹218.1 crore in the second quarter of this fiscal over ₹222.8 crore in the corresponding period in the previous fiscal.

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EBITDA margin stood at 15% in the reporting quarter as compared to 16.8% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

Balfour Manuel, Managing Director, Blue Dart Express Ltd, said, "During the quarter, we achieved strong year-on-year revenue growth, showcasing our robust performance across established and sunrise sectors.

Our increased earnings capacity enables us to strategically invest in expanding our network, including the deployment of new aircraft into our fleet to enhance our service offerings and meet our customers' evolving needs.

Following this, we are also investing in the development of strategic ground hubs and delivery centers for 828 and e-commerce distribution. These investments are designed to enhance scalability, flexibility, accuracy, and speed across our entire network, driving sustainable future growth."

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The results came after the close of the market hours. Shares of Blue Dart Express Ltd ended at ₹7,928.15, up by ₹20.50, or 0.26% on the BSE.