Blue Dart Express: Delivering strong growth
The share price of Blue Dart Express rallied Friday after the logistic services provider reported a three-fold jump in its profit to Rs 41.39 crore for the quarter ended September 30.
The stock gained as much as 16% to Rs 3,767.20 per share on the NSE. The price has since retreated and currently trading 10.2% higher at Rs 3,580.40.
The company had posted a profit of Rs 14 crore for the same quarter last year.
Revenue from operations also rose 8% to Rs 864 crore as compared to Rs 800 crore in the year-ago period.
The operating profit also went up three-fold to Rs 97 crore while margins (OPM) jumped to 11% from 3% last year on the back of favourable growth in sales revenue and cost control.
Furthermore, it paid Rs 34.2 crore as a one-time ex-gratia to all employees, excluding senior management, as part of the company”s ”People First” policy.
Automation and technology will continue to be the pivot for the business and Blue Dart will continue investing in these capabilities.
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