Blue Dart Express on Wednesday reported a 28 per cent dip in standalone profit after tax (PAT) to Rs 86.9 crore in the December 2022 quarter.

The company had posted a standalone PAT of Rs 122.20 crore in the third quarter of the previous fiscal, the company said in a statement.

Its revenue from operations during the reporting quarter grew 7 per cent to Rs 1,337.1 crore compared to Rs 1,254.8 crore in Q3 FY22.

During the quarter, Blue Dart said, the geo-political scenario continues to remain volatile. International crude prices and foreign currencies specifically witnessed high volatility, leading to a high inflationary ecosystem.

Higher jet fuel prices, forex volatility and correction in minimum wages continue to keep the costs at escalated levels, it added.

Further, the company has been working on enhancing its package handling capacity on air and ground to handle increased volume and improve service quality, Blue Dart said.

“We are expanding our presence in tier II & III markets. We have about 700 retail stores (with DHL) across India. Additionally, we plan to set up about 100 new stores in the near future to aggressively expand our channel footprint,” said Balfour Manuel, Managing Director at Blue Dart. PTI IAS SID BAL BAL