Indian delivery firm Blue Dart Express quarterly profit rises as cost efficiency improves
Indian delivery firm Blue Dart Express quarterly profit rises as cost efficiency improves Nov 6 (Reuters) - India's Blue Dart Express BLDT.NS reported a 27.7% rise in second-quarter net profit on Friday, on better revenue per shipment and cost efficiencies.
Here are the details:
Consolidated net profit for the quarter ended September 30 rose to 1.04 billion rupees ($11.05 million) from 813.8 million a year earlier
Revenue from operations rose 14.5% to 17.74 billion rupees; total expenses rose 14% to 16.52 billion rupees
The company said its performance was driven by an improved product mix, better yield realisation and continued service optimisation, supported by a focus on unit cost efficiency during the quarter
The firm added it strengthened customer engagement through targeted outreach to micro, small and medium enterprises and businesses in emerging markets
Analysts at Ambit Capital had expected Blue Dart's September-quarter revenue to rise 10% year-on-year, while forecasting a 37-basis-point decline in EBITDA margin
The brokerage had said reduced insourcing by the largest customer should support larger logistics players and flagged margin performance as a key monitorable for Blue Dart. The firm did not disclose the customer's name
($1 = 94.1550 Indian rupees)
(Reporting by Payel Das; Editing by Harikrishnan Nair)
((Payel.Das@thomsonreuters.com;))
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