India's Blue Dart Express sinks to 7-mth low on Q3 profit slump

Blue Dart Express

27/01/2023 04:56

** Shares of Indian courier services provider Blue Dart Express
Ltd  BLDT.NS  fall as much as 2.9% to 6,550 rupees - lowest
since June 21, 2022
    ** Stock sees steepest intraday pct decline since Jan. 5    
    ** Co reported a 28.2% fall in consolidated net profit to
886.6 mln rupees ($10.87 million) from 1.23 bln rupees ($15.08
million) a year earlier
    ** BLDT says revenue hurt by high costs, led by aviation
turbine fuel prices and high inflation
    ** Stock set to fall for fifth consecutive session, if
losses hold
    ** Three of seven analysts rate the stock "buy" or higher, 2
"hold," 2 "sell" or lower; median PT is 8,365 rupees
    ** Nearly 6,500 shares traded as of 9:53 am IST, 0.3X the
30-day moving average
    ** Stock rose for third consecutive year in 2022, climbing
21.9% last year
($1 = 81.5800 Indian rupees)
 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com;))