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Indian courier delivery platform Blue Dart Express reported a drop in second-quarter profit on Monday as a rise in expenses offset strong freight volumes.
The company's consolidated net profit was Rs 62.84 crore ($7.5 million) for the quarter ended Sept. 30, down 14 per cent from a year ago.
Its revenue from operations climbed 9.4 per cent to Rs 1,448 crore, while total expenses jumped 11.4 per cent.
KEY CONTEXT
Logistics companies in India have been struggling with persistently high expenses and tough competition, especially from the logistics arms of e-commerce platforms such as Amazon.
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However, these companies have signalled a recovery in freight volumes on the back of a pickup in economic activity.
Moreover, analysts have said Blue Dart's volume growth has been boosted by the addition of new freighters to its network.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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