Blue Dart Express Q4 net profit up 52% at Rs 136.97 cr; revenue rises 20%

Logistics services provider Blue Dart Express Ltd on Thursday reported an increase of 52.18 per cent in its consolidated net profit at Rs 136.97 crore for the fourth quarter ended March 2022.

The company had posted a net profit of Rs 90 crore in the January-March quarter a year ago, Blue Dart Express said in a BSE filing.

Its revenue from operations rose 20.41 per cent to Rs 1,165.91 crore during the quarter under review as against Rs 968.28 crore in the corresponding quarter of the preceding fiscal.

Blue Dart's total expenses were at Rs 986.27 crore, up 15.53 per cent as against Rs 853.63 crore in the fourth quarter of FY21.

"The company delivered one of the strongest performances in the recent past. Topline grew by 21 per cent with a healthy mix of volume growth and realisation improvement despite challenging geopolitical scenario," said Blue Dart Express in its earnings statement.

For the fiscal year ended on March 31, 2022, Blue Dart Express has reported an almost four-fold jump in its consolidated net profit at Rs 382.21 crore. It had reported a net profit of Rs 101.81 crore in FY21.

Its revenue from operations for the entire fiscal increased 34.13 per cent to Rs 4,410.49 crore. It was Rs 3,288.13 crore in the financial year 2020-21.

Blue Dart Express managing director Balfour Manuel said: "Throughout the year, we have shown outstanding resilience, responsiveness and reliability for all our stakeholders, which is mirrored in our Q4 and year-end financial performance. Our focus on remaining customer-first, investing in our technology capabilities and thus, remaining agile in a VUCA environment, has helped the company improve its margins. FY22 has been a rewarding year."

About the outlook, he said Blue Dart plans on expanding ground and air express capacity which propel service quality to new heights.

"We continue to remain an insanely customer-centric organisation, and therefore, innovation to deliver excellence at every touchpoint continues to remain a major priority," Manuel added.

Meanwhile, in a separate filing, Blue Dart informed that its board in a meeting held on Wednesday recommended a dividend of Rs 35 per share on the equity capital for the year ended March 2022.

Shares of Blue Dart Express Ltd on Wednesday settled at Rs 6,827.90 on the BSE, down 1.04 per cent from the previous close.