India · Delayed Price · Currency is INR Blue Dart Express Earnings Call Transcripts
Fiscal Year 2026
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Revenue grew 7% year-over-year to INR 16,161 million, with e-commerce and ground segments driving growth. Margins improved due to festive season volumes, and capacity utilization remains high. Management expects continued growth in ground and eCom Surface Lite, with ongoing margin improvement efforts.
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Revenue for the quarter ended 30th September 2025 was INR 15,493 million, with profit after tax at INR 795 million. B2C revenue grew 18% year-over-year, driven by strong e-commerce and ground shipments, while margins improved due to yield and cost actions.
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Revenue grew to INR 14,419 million with profit after tax at INR 469 million, driven by strong B2C growth of 20.2% and stable B2B performance. Margins declined due to changes in customer and product mix, but capacity utilization and operational efficiency remain high.
Fiscal Year 2025
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Revenue and profit grew year-over-year, with strong B2B and B2C volume growth, though margins contracted due to higher fixed costs and fewer business days. Investments in aircraft and automation are expected to support future margin improvement and operational efficiency.
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Q3 FY24 saw 9.3% revenue growth and record EBITDA margin, driven by festive demand and improved fleet utilization. B2C and ground segments led volume growth, while CapEx was focused on infrastructure. Management remains cautious, prioritizing profitability and service quality.
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Q2 FY24 saw profit after tax of INR 608 million and revenue of INR 14,485 million, with 96.6 million shipments. Margins declined year-over-year due to a shift toward surface business and investments, but improved aircraft utilization and festive demand are expected to support margin recovery.
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Q1 FY25 saw 6.7% revenue growth and strong volume gains, but margins declined due to higher costs from new investments and a shift toward surface business. Management expects margin improvement as utilization rises, especially during the festive season.