Blue Dart Express (526612) Q3 24/25 earnings summary

Executive summary

• Q3 FY24 profit after tax was INR 791 million, with revenue from operations at INR 15,117 million, reflecting a 9.3% year-over-year growth.

• Consolidated revenue from operations for Q3 FY2024-25 was ₹151,169 lakhs, up from ₹138,293 lakhs year-over-year.

• Net profit for the quarter was ₹8,101 lakhs, a decrease from ₹8,889 lakhs in the same quarter last year.

• Profit before tax for the quarter was INR 1,064 million, slightly up from INR 1,050 million in the previous quarter.

• Shipment volume for the quarter was 98.59 million, with tonnage at 351,873 tons, representing 7.2% and 12% growth respectively.

Financial highlights

• EBITDA margin was the highest in the year so far, driven by festive season demand, improved fleet utilization, and cost optimization.

• Total income for Q3 FY2024-25 was ₹152,365 lakhs, compared to ₹140,728 lakhs in Q3 FY2023-24.

• Expenses increased to ₹141,439 lakhs from ₹129,976 lakhs year-over-year.

• B2B revenue grew 6.8% and B2C revenue grew 13.6% sequentially; B2B weight increased 11.1% and B2C weight 16.9%.

• CapEx for the nine months was INR 622 million, about 50% of the annual budget of INR 1,274 million, mainly allocated to infrastructure.

Outlook and guidance

• Investments will continue in infrastructure, with a focus on profitable growth and maintaining a structured approach.

• Annual budgets and forward-looking CapEx and EBIT targets will be released before the next quarter.

• The company continues to focus on integrated air and ground transportation and distribution, with all operations and assets based in India.

• Management aims for consistent, stable growth rather than aggressive double-digit targets, with a focus on service quality.