Blue Dart Express Ltd. (NSE: BLUEDART) : Q3 FY23 Results Out; Total Income rise 6% YoY

Blue Dart Express Limited ( NSE: BLUEDART) is a leading express delivery and logistics company in India. It was established in 1983 and is headquartered in Mumbai. The company provides air express, ground express, integrated logistics and e-commerce services. It has a network of more than 4600 locations, with over 200 hubs and 16 international offices. Blue Dart Express Limited is a subsidiary of DHL Express, which is the world’s leading international express delivery company.

The company announced its Q3FY23 results, which indicate a decline in its profit after tax compared to the corresponding quarter of the previous year. However, its revenues from operations have increased, along with its EBITDA, which is a measure of a company’s operating profitability.

For the quarter ended on December 31, 2022, Blue Dart Express Ltd. posted a profit after tax of Rs 869 million, which is lower than the corresponding quarter’s profit after tax in the previous year of Rs 1,222 million. This represents a decrease of around 29%. However, the company’s revenues from operations for the quarter ended in December 31, 2022, were Rs 13,371 million, which indicates growth of

6.6% over the same quarter from the previous year. The company’s EBITDA for the quarter is Rs 1,645 million, and the EBITDA margin stood at 12.3%.

In terms of the consolidated 9MFY23 results, the revenues for the nine-month period stood at Rs 39,557 million, indicating growth of 22% over the previous year. The EBITDA for the nine-month period was Rs 7,616 million, and the EBITDA margin for the nine-month period stood at 19.25%.

The company’s Managing Director, Balfour Manuel, stated that Blue Dart Express Ltd. is focusing on expanding its presence in Tier II & III markets in India with about 700 retail stores (with DHL) across India, offering customers a quick turnaround time and an enhanced direct reach to pin codes in the country. Additionally, the company plans to set up about 100 new stores in the near future to aggressively expand its channel footprint.

In summary, Blue Dart Express Ltd.’s Q3FY23 results show a decline in its profit after tax compared to the corresponding quarter of the previous year. However, its revenues from operations have increased, and its EBITDA has grown. The company is focusing on expanding its presence in Tier II & III markets in India and plans to set up about 100 new stores in the near future to expand its channel footprint.