India's Blue Dart Express down on Q1 profit decline

Blue Dart Express

28/07/2023 06:28

** Shares of Blue Dart Express  BLDT.NS  fall as much as
4.1% to 6,930.9 rupees, lowest level since June 21
    ** Stock posts steepest intraday pct fall since March 20
    ** Co on Thursday reported a 48% fall YoY in Q1 profit;
revenue fell 4.3% while expenses rose 2.1%
    ** Peer Mahindra Logistics  MALO.NS  reported Q1 loss
earlier this week on higher expenses and lukewarm demand
    ** Over 14,000 shares change hands as of 10:49 a.m. IST,
0.6x the 30-day average
    ** Avg rating of seven analysts 'buy' with median PT of
7,732 rupees - Refinitiv data
    ** Stock down 6.2% YTD as of last close
    
($1 = 82.2525 Indian rupees)

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))