The shares of this logistics company gained up to 3 percent after the company’s board approved the purchase of two leased aircraft by Blue Dart Aviation Ltd worth Rs 40 crores.
With a market capitalization of Rs 17,950.18 crores, Blue Dart Express Ltd., On Monday, the company shares were trading at Rs 7,566.20 apiece, an increase of 2.36 percent from the previous close price.
Based on the exchange filing, the Board of Directors of Blue Dart Express Ltd has approved the acquisition of two leased aircraft from DHL Aviation (Netherlands) B.V. (DHL NL), a fellow subsidiary company, for approximately Rs. 40 crores by Blue Dart Aviation Ltd. (BOAL), a wholly-owned subsidiary of the company.
Blue Dart Express Ltd operates 6 Boeing 757-200 and 2 Boeing 737-800 aircraft and is present in over 55,400 locations worldwide.
Looking into the company’s performance, Blue Dart Express Ltd’s revenue decreased by 0.07 percent from Rs 1,325 Crore in Q2FY23 to Rs 1,324 Crore in Q2FY24. During the same period, net profit decreased by 22 percent from Rs 94 crore to Rs 73 Crore.
The sector’s compound annual growth rate (CAGR) is expected to increase from 7.8% over the preceding five years to 10.5% through 2025, according to the Investment Information and Credit Rating Agency of India (ICRA).
Blue Dart keeps up its national support by offering the best service possible throughout the huge and varied geographical area of India. Over 3,273.71 lakh domestic shipments and over 8.23 lakh international shipments, totaling more than 11,54,000 tonnes, were transported by Blue Dart throughout the year.
Time-sensitive shipments are transported and distributed door-to-door by Blue Dart Express Limited using an integrated ground and air transportation network.
Written By:- Abhishek Singh
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