Blue Dart Express Surges 8% on Strong Q1 Earnings

Shares of Blue Dart Express surged over 8 per cent after the logistics company posted a strong first-quarter performance.

Net profit of Blue Dart Express rose 33 per cent to Rs 45.6 crore in the June quarter, aided by margin expansion and higher revenues. Revenues rose 18 per cent to revenues at Rs 620 crore.

Its EBITDA, or operating margin, expanded by 219 basis points to 13 per cent. On a sequential basis, operating margin rose 111 basis points on lower freight handling cost. Operating income during the June quarter stood at Rs 80.6 crore, up 57 per cent from year-earlier levels.

Blue Dart Express Ltd Managing Director Anil Khanna said: "The macroeconomic environment continues to be sluggish, which has further stifled the growth of our industry. Despite this, we have worked on constant innovation by strengthening our product portfolio to serve our customers with solutions that match up to meet their dynamic and evolving business needs."

Blue Dart shares ended 5.27 per cent higher as compared to a 0.60 per cent gain in Sensex.  Other logistics companies also ended higher. Gati, Transport Corporation of India, Allcargo Logistics ended with 2-6 per cent gains.