Friday, May 3, 2024

Blue Dart Sales At Rs 5,268 Crore; Financial Performance Driven By Revenue Growth And Strategic Investments

Blue Dart Express Limited, South Asia's premier express air, integrated transportation, and distribution logistics Company, declared its financial results for the quarter and year ended March 31, 2024, at its Board Meeting.

During the fiscal year ending March 31, 2024, revenue from operations stood at Rs 5,268 crore, accompanied by a profit after tax of Rs 289 crore. This marks sustaining of revenue levels after significant surge observed in post-pandemic period. Revenue from operations for the quarter ended March 31, 2024, is at Rs 1,323 crore with a growth of 8.7% and profit after tax is Rs 76 crore with a growth of 8.1%, signifying the growth rates getting further momentum in the last quarter vs. full year.

Reflecting on the company's performance, Balfour Manuel, Managing Director, Blue Dart Express, stated, "In FY24, our profit margin levels have been sustained amidst network expansion and infrastructure investments in the recent quarters. These initiatives included the establishment of crucial air routes through the acquisition of two 737 freighters and the inauguration of state-of-the-art facilities. With addition of network and capacities, the growth in volumes in picking up additional momentum. The volumes have continued to grow with 9.5% growth in shipments and 4.4% growth in weights during the financial year. Additionally, we introduced innovative shipping platforms and forged strategic partnerships to further enhance our operations. These efforts signify our commitment to improving customer experience and strengthening market position. Amidst this trajectory of growth, we have consistently maintained operational efficiency, serving as a testament to our pursuit of excellence."

Discussing the business outlook, he highlighted, "We are optimistic about the opportunities that lie ahead. Aligned with India's development path, we are focusing on offering expedited deliveries across the country. With our capabilities, leadership, and the strength of our ground surface and air operations, we are poised to realize our goals.”

In 2024, Blue Dart received the distinction of being a Top Employer and Best Organization for Women. As an ‘Equal Opportunity Employer,’ the company has embedded robust policies and initiatives aimed at empowering women into the company’s DNA. Additionally, the company was recognized as a Well-Known Trademark by the Indian Trademark Registry. The company continues to prioritize Exceptional Service Quality, leveraging automation and technology to deliver seamless, one-stop logistics solutions to its customers.

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