Blue Dart Express advanced 4.36% to Rs 6,506.85 after the company reported 12.01% rise in consolidated net profit to Rs 77.78 crore on 8.74% increase in revenue from operations to Rs 1,322.87 crore in Q4 FY24 over Q4 FY23.
Profit before tax stood at Rs 104.94 crore in March 2024 quarter, up 8.6% on YoY basis.On full year basis, the company's consolidated net profit decreased 18.76% to Rs 301.01 crore on 1.85% rise in revenue from operations to Rs 5,267.83 crore in FY24 over FY23.
The company said that during the period FY24, Blue Dart marked sustaining of revenue levels after significant surge observed in post-pandemic period.
Balfour Manuel, managing director of Blue Dart, said, In FY24, our profit margin levels have been sustained amidst network expansion and infrastructure investments in the recent quarters. These initiatives included the establishment of crucial air routes through the acquisition of two 737 freighters and the inauguration of state-of-the-art facilities. With addition of network and capacities, the growth in volumes in picking up additional momentum.
The volumes have continued to grow with 9.5% growth in shipments and 4.4% growth in weights during the financial year. Additionally, we introduced innovative shipping platforms and forged strategic partnerships to further enhance our operations. These efforts signify our commitment to improving customer experience and strengthening market position. Amidst this trajectory of growth, we have consistently maintained operational efficiency, serving as a testament to our pursuit of excellence."
Meanwhile, the board has recommended a dividend of Rs 25 per equity share for FY24.
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Blue Dart Express is South Asia's premier express air and integrated transportation & distribution company.
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