Blue Dart Q1 Results: Profit Falls 13%, Missing Estimates

Blue Dart Express Ltd. reported a 12.8% year-on-year decline in net profit for the first quarter of this financial year, missing analyst estimates.

The logistics firm recorded a net profit of Rs 53.4 crore for the quarter ended June, compared to Rs 61.3 crore in the same quarter of the previous fiscal year, according to its stock exchange notification. This was below the Rs 78.6 crore estimate by analysts tracked by Bloomberg.

Revenue increased by 8.5% year-on-year for the three months ended June, reaching Rs 1,343 crore. Analysts had projected revenue of Rs 1,333.15 crore.

Operating income, or earnings before interest, taxes, depreciation, and amortisation, rose 6% year-on-year to Rs 202 crore. The Ebitda margin contracted to 15.1% from 15.4% in the same period the previous year. Analyst estimates for Ebitda and Ebitda margin tracked by Bloomberg were Rs 182.2 crore and 13.70%, respectively.

Shares of the company closed 2.71% lower at Rs 8,207.75 per share, compared to a 0.42% decline in the NSE Nifty 50. The stock has risen 11.89% year-to-date and 12.30% over the past 12 months.