Blue Dart Express net profit falls 49% to Rs 69 crore in March quarter

Logistics company Blue Dart Express Ltd on Friday posted an over 49 per cent decline in its consolidated net profit to Rs 69.44 crore in the March quarter on account of increased expenses.

It had reported a consolidated net profit of Rs 136.97 crore in the year-ago quarter, the company said in a BSE filing.

Its total income rose to Rs 1,225.22 crore from Rs 1,169.52 crore in the January-March period of FY22.

While the company's total expenses rose to Rs 1,128.59 crore as against Rs 986.27 crore a year ago.

The company has also approved an interim dividend of Rs 30 per equity share for the financial year 2022-23.

"We continue to maintain our focus on operational improvements and productivity enhancements, which led to growth.

"We closed FY'23 with a strong potential for the future by developing creative solutions for our customers and expanding our fleet with two Boeing 737 aircraft to serve the length and breadth of the country," Balfour Manuel, Managing Director of Blue Dart, said.