Blue Dart Express - Flight To Safety Continues Unabated: ICICI Direct 
The Blue Dart Express Ltd. logo is displayed on the back of an employee’s high-visibility safety vest (Photographer Dhiraj Singh/Bloomberg)

Blue Dart Express - Flight To Safety Continues Unabated: ICICI Direct 


BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

Blue Dart Express Ltd. has been reporting a stellar uptick in performance post Q1, registering revenue growth of 8% and 21% YoY in Q2 and Q3, respectively.

Shift in consumer buying behaviour and consumption patterns, led to higher growth in the business-to-consumer and business-to-business segments.

Due to the strong growth, the utilisation of assets remained high (85% plus).

The revenue performance was further assisted by expansion in Ebitda margins by 1880 basis points and 780 bps to 26.4% and 24.3% in Q2 and Q3, to yield an absolute Ebitda of Rs 229 crore (up three times YoY) and Rs 252 crore (up 77% YoY), respectively.

Click on the attachment to read the full report:

ICICI Direct Blue Dart Company Update.pdf


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