The Business Bytes
Mumbai, July 19, 2024 (TBB Bureau): Blue Dart Express on Friday announced its financial results for the first quarter (Q1FY25), reporting revenue from operations of Rs 1,342.71 crore, an increase of 8.5 per cent compared to Rs 1,237.55 crore in the first quarter of FY24. However, the company’s profit for the quarter was ₹53.42 crore, a decrease of 12.8 per cent from Rs 61.28 crore in the same quarter of the previous financial year.
The company’s EBITDA for the quarter reached Rs 202.2 crore, reflecting a 5.8 per cent year-on-year increase.
Blue Dart Express recorded a total income of Rs 1,351.79 crore, while total expenses for the quarter amounted to Rs 1,279.76 crore.
Commenting on the company’s performance, Blue Dart Express Managing Director Balfour Manuel said, “Our status as a leading logistics provider is due to our dedication to operational efficiency and customer-focused solutions. We are optimistic about growth opportunities that align with the country’s development. By expanding our network, leveraging technology, and enhancing service capabilities, we are well-positioned to seize emerging opportunities and deliver exceptional value to our customers and stakeholders.”
During the first quarter, the company expanded its electric vehicle (EV) fleet, underscoring its commitment to sustainability and reducing its carbon footprint. In addition, Blue Dart launched drone deliveries in collaboration with a drone technology company.
