India's Blue Dart Express falls to 4-month low on weak margin

Blue Dart Express

31/10/2022 07:12

** Shares of Indian logistics co Blue Dart Express Ltd
 BLDT.NS  fall as much as 3.7% to 7,650 rupees, lowest since
June 30, after a weak quarterly earnings report on Friday
        ** Consolidated core earnings margin shrank to 16.7%,
lowest since second quarter of fiscal 2021, due to negative
price-cost effect, ICICI Securities analysts wrote in a note on
Sunday
  
        ** Intensifying competition in the price-sensitive
market is likely to pose major challenges to Blue Dart, they
added
  
    ** BLDT reported a 3% rise in its quarterly profit, versus a
near 18% jump in revenue from operations, as servicing costs and
high jet fuel prices hurt performance  urn:newsml:reuters.com:*:nL4N31T2E7
        ** Motilal Oswal analysts on Saturday lowered their
earnings per share estimate for BLDT's fiscal 2023 and 2024 on
increased inflationary pressure and rising competition
    ** More than 30,000 shares change hands by 0648 GMT vs
30-day avg of 32,547 shares
    ** Three of the 7 analysts covering the stock have a "buy"
or "strong buy" rating, 1 has "hold," while 3 rate it at "sell"
or "strong sell;" median PT is 8,180 rupees - Refinitiv 
    ** Stock up ~26% this year, as of last close
($1 = 82.4000 Indian rupees)
 (Reporting by Anisha Ajith)
 ((anisha.ajith@thomsonreuters.com;))