Blue Dart Express' profit after tax jumps 29.5% to Rs 123.4 cr in Dec qtr

Logistics major Blue Dart Express on Friday reported a 29.5 per cent jump in consolidated profit after tax (PAT) to Rs 123.40 crore for the December 2021 quarter.

The company had posted a consolidated PAT of Rs 95.30 crore in the corresponding quarter last year, it said in a statement.

Its revenue from operations during October-December 2021 grew 21 per cent to Rs 1,254 crore, compared with Rs 1,037.10 crore in the year-ago period, according to the statement.

On a standalone basis, the company's PAT rose 30.30 per cent to Rs 122 crore during the December 2021 quarter, compared with Rs 93.80 crore a year ago.

Its revenue from operations jumped 21.2 per cent to Rs 1,254.80 crore, against Rs 1,032.90 crore a year ago, it stated.

Blue Dart Express MD Balfour Manuel said, "The company has witnessed strong growth during Q3 of FY22, owing to heightened business activity from key industry verticals."

He added that while the nascent stages of the third wave of the pandemic had begun to take shape towards the end of the quarter, Blue Dart's succinct focus on delivering excellence, driven through innovation and digitisation were the main contributors to the company's profit margin.

While economic indicators at the end of the quarter pointed towards green shoots emerging in the economy, the surge in cases due to new variants of coronavirus indicates a slowdown in recovery, he said.

"However, we remain cautiously optimistic for what the future holds, especially as we work towards building a sustainable business that stands to benefit our stakeholders by providing them with responsible solutions that safeguard our planet," Balfour added.