Blue Dart Sees 23% Drop In Net Profit: Q1FY24 Results


The net profit of courier service provider Blue Dart Express decreased by 23 per cent in the second quarter of FY24 to Rs 71 crore, compared to Rs 92 crore in the same period of FY23.

Revenue from operations remained almost the same at Rs 1,324 crore. During the quarter ended September 30, 2023, Blue Dart handled 918 lakh shipments weighing 307,480 tonnes. The company also added two B737-800 aircraft to support capacity requirements.

In August, the company opened several retail stores, franchise collection centers, express selling agents, and regional service provider franchisees. Despite the sluggish global economic growth, Blue Dart managed to exceed pre-pandemic revenue and expand their customer base across India. Balfour Manuel, the Managing Director of Blue Dart Express, attributed their success to their robust infrastructure, comprehensive solutions and extensive reach.

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