Blue Dart FY24 sales at ₹5,268 crore; PAT at ₹289 crore

Blue Dart Express, part of DHL Group’s DHL eCommerce division, declared its financial results with revenue from operations at ₹5,268 crore, accompanied by a profit after tax of ₹289 crore, for the fiscal year ending March 31, 2024.

“This marks sustaining of revenue levels after significant surge observed in post-pandemic period,” reads the release.

Revenue from operations for the quarter ended March 31, 2024, is at ₹1,323 crore with a growth of 8.7% and profit after tax is ₹76 crore with a growth of 8.1%, signifying the growth rates getting further momentum in the last quarter vs. full year.

Balfour Manuel, managing director, Blue Dart Express, stated, "In FY24, our profit margin levels have been sustained amidst network expansion and infrastructure investments in the recent quarters. These initiatives included the establishment of crucial air routes through the acquisition of two 737 freighters and the inauguration of state-of-the-art facilities. With addition of network and capacities, the growth in volumes in picking up additional momentum. The volumes have continued to grow with 9.5% growth in shipments and 4.4% growth in weights during the financial year. Additionally, we introduced innovative shipping platforms and forged strategic partnerships to further enhance our operations. These efforts signify our commitment to improving customer experience and strengthening market position. Amidst this trajectory of growth, we have consistently maintained operational efficiency, serving as a testament to our pursuit of excellence."

Discussing the business outlook, he highlighted, "We are optimistic about the opportunities that lie ahead. Aligned with India's development path, we are focusing on offering expedited deliveries across the country. With our capabilities, leadership, and the strength of our ground surface and air operations, we are poised to realize our goals.”