Blue Dart Express on Friday reported its fiscal first quarter earnings with profit at Rs 53.42 crore, down 12.8 per cent in comparison to Rs 61.28 crore during the corresponding quarter of previous financial year. It posted revenue from operations at Rs 1342.71 crore, up 8.5 per cent as against Rs 1237.55 crore during the first quarter of FY24. The company EBITDA stood at Rs 202.2 crore, up 5.8 per cent on-year.
While the company reported a total income during the quarter in review at Rs 1351.79 crore, total expenses incurred during Q1 was at Rs 1279.76 crore.
Balfour Manuel, Managing Director, Blue Dart Express, said, “Our position as a leading logistics provider is a result of our commitment to operational efficiency and customer-centric solutions. We are optimistic about the 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.”
The company, during the first quarter, expanded its electric vehicle (EV) fleet, demonstrating its commitment to sustainability and reducing its carbon footprint. Additionally, Blue Dart also launched drone deliveries in collaboration with a drone technology company.
Further, the company also announced the retirement of Sharad Upasani, Independent Director, with effect from July 22, 2024. “The Board of Directors placed on record it’s deep appreciation for the valuable contribution made by Mr. Sharad Upasani during his tenure as ‘Chairman and Independent Director’ of the Company,” it said in a regulatory filing.
The Board also approved the appointment of Prakash Apte, Independent Director as Non-Executive Chairman of the Compay with effect from July 23, 2024. Prakash Apte is an Independent Director of Blue Dart Express Limited with effect from July 28, 2022. He brings a wealth of experience, currently serving as a Member of the Audit Committee and Nomination & Remuneration Committee of the Board.