Blue Dart Q1 profit falls 8.6% YoY as high employee, finance costs bite

Blue Dart Express Ltd on Tuesday posted an 8.6% drop in first-quarter profit, weighed down by higher employee and finance costs, even as revenue rose on continued demand for logistics and distribution services.

The DHL-owned logistics firm reported a consolidated net profit of ₹48.8 crore for the three months ended June 30, down from ₹53.4 crore a year earlier.

Revenue from operations climbed 7.4% year-on-year to ₹1,441.9 crore, while total expenses rose 8.3%, led by a 8.7% jump in employee benefit costs and higher depreciation.

Earnings before interest, tax, depreciation and amortisation (EBITDA) grew 10.2% to ₹223.7 crore.

EBITDA margin improved to 15.5% from 15.1% in the year-ago quarter.

The company flagged “substantial traction” across both B2B and B2C verticals and said its investments in new hubs, automation and digital infrastructure were helping sustain growth momentum.

During the quarter, Blue Dart launched its largest integrated operating facility in Delhi’s Bijwasan and expanded air connectivity to Guwahati.

Shares of Blue Dart have fallen nearly 7% so far this year. The stock ended 1.1% lower today at a price of ₹6,489.75 on the BSE.