Blue Dart Express Q4 net loss at Rs 30.57 crore

News Clip: Outlook India

26th May, 2020

Logistics player Blue Dart Express on Tuesday reported a consolidated net loss of Rs 30.57 crore in the March quarter, hit by the nationwide lockdown induced by COVID-19.

The company had posted a net profit of Rs 12.24 crore in the January-March quarter a year ago, the company said in a BSE filing.

Its revenue from operations was at Rs 726.30 crore during the quarter under review as against Rs 781.55 crore in the corresponding period last year.

Commenting on the results, Blue Dart Express Managing Director Balfour Manuel said: "While we had started reaping benefit of cost efficiency measures and restructuring exercise in the quarter under consideration, lockdown due to COVID-19 in second fortnight of March impacted our revenues and bottom-line."

He further said, "We expect to see our operations coming to near normal soon after the lockdown is lifted, thanks to passionate Blue Darters who are ever willing to meet and exceed customers'' expectations." 

Blue dart Express total expenses stood at Rs 758.87 crore in Q4 of FY 2019-20.

Shares of Blue Dart Express on Tuesday settled at Rs 2,028.55 apiece on the BSE, up 1.09 per cent from their previous close.