Blue Dart Express jumps after Q3 PAT rises 29% YoY to Rs Rs 123 cr

Blue Dart Express rose 2.95% to Rs 6928.70 after the company's consolidated net profit rose 29.48% to Rs 123.42 crore on 20.98% rise in net sales to Rs 1254.75 crore in Q3 December 2021 over Q3 December 2020.

On a consolidated basis, profit before tax (PBT) rose 43% to Rs 165.38 crore in Q3 December 2021 over Q3 December 2020. EBITDA rose 8.3% year-on-year to Rs 288 crore in Q3 December 2021. EBITDA margin stood at 22.7% in Q3 December 2021 as against 25.5% in Q3 December 2020.

On a standalone basis, the company's net profit rose 39.86% to Rs 122.18 crore on 21.24% rise in net sales to Rs 1,254.75 crore in Q3 December 2021 over Q3 December 2020. EBITDA rose 15% year-on-year to Rs 211.70 crore in Q3 December 2021. EBITDA margin stood at 16.8% in Q3 December 2021 as against 17.7% in Q3 December 2020.

The company's board has declared interim dividend of Rs 25 per share for the Financial Year 2021-2022. Dividend will be paid to the shareholders on or after 24 February 2022.

Balfour Manuel, managing director, Blue Dart says, "The company has witnessed strong growth during 03 of FY21-22 owing to heightened business activity from key industry verticals. 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 our profit margin. Apart from this, growth in demand due to the festive season, our ability to provide incomparable service quality despite a surge in volumes and our extensive reach has helped us remain a 'Customer Trusted Brand'."

Speaking about the future outlook, he says, "While economic indicators, towards the end of the quarter, pointed towards green-shoots emerging in the economy, the surge in cases due to new variants of the coronavirus indicate a slow-down in recovery. However, we remain cautiously optimistic for what the future holds..."

Blue Dart Express, South Asia's premier express ar and integrated transportation & distribution company, offers secure and reliable delivery of consignments to over 35,000 locations in India.

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