Blue Dart crashes after weak Q4 result

Blue Dart Express lost 2.52% to Rs 4,675.20 at 15:08 IST on BSE after net profit dropped 36.85% to Rs 24.52 crore on 7.08% rise in total income to Rs 682.23 crore in Q4 March 2017 over Q4 March 2016.

The result was announced after market hours on Friday, 5 May 2017.

Meanwhile, the S&P BSE Sensex was up 81.09 points or 0.27% at 29,939.89

On BSE, so far 585 shares were traded in the counter as against average daily volume of 2,978 shares in the past one quarter. The stock hit a high of Rs 4,795 and a low of Rs 4,675.20 so far during the day.

The stock had hit a 52-week high of Rs 6,333 on 3 June 2016. The stock had hit a 52-week low of Rs 4,162.10 on 27 December 2016. The stock had underperformed the market over the past 30 days till 5 May 2017, sliding 6.97% compared with 0.23% fall in the Sensex. The scrip, however, outperformed the market in past one quarter, gaining 11.02% as against Sensex's 5.73% rise.

The large-cap company has equity capital of Rs 23.73 crore. Face value per share is Rs 10.

Blue Dart Express' Managing Director, Anil Khanna, said that it was a turbulent and challenging financial year for the industry and the company's business, due to the subdued economic environment and reduced consumer spending. However, with a clear focus on managing cost pressures and improving efficiency, the company has displayed a modest performance this year, Anil Khanna said. The company awaits the roll out of Goods and Service Tax (GST) and is confident of sustaining growth in the coming quarters as well and will see greater acceleration as the year unfolds, he said.

Blue Dart Express accesses the largest and most comprehensive express and logistics network worldwide, covering over 220 countries and territories and offers an entire spectrum of distribution services including air express, freight forwarding, supply chain solutions and customs clearance.

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