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Blue Dart Express Q2 Review — Festive Demand Drives Volumes: Motilal Oswal

Blue Dart Express Q2 Review — Festive Demand Drives Volumes: Motilal Oswal

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

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Motilal Oswal Report

Blue Dart Express Ltd.’s topline grew 30% YoY to ~Rs 11.2 billion (up 30% QoQ).

Revenue growth was driven primarily by healthy volume growth of 29% QoQ to 0.24 million tonne in Q2.

Ebitda grew 35% YoY to Rs 2 billion (up 138% QoQ). The Ebitda margin jumped to a near-record high of 17.7% (up 61 basis points YoY); it improved on account of better realisation and steps undertaken to increase efficiency.

Blue Dart Express offered a one-time payment of Rs 360 million rewarding its employees for their outstanding efforts during the Covid-19 crisis.

Strong operating performance and lower depreciation resulted in 66% YoY growth in adjusted profit after tax to Rs 1.3 billion.

Click on the attachment to read the full report:

Motilal Oswal Blue Dart Express Q2FY22 Result Update.pdf

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