This logistics stock rallied 3% in Wednesday’s trading session after the company rebranded one of its delivery services as Bharat Dart. The transformation marks a milestone in the company’s ongoing journey.
Share price of Blue Dart opened at Rs. 6541 levels and gained more than 3% to reach its intra- day high of Rs. 6775 levels. The stock is trading at a discount of 22.95. In the last three years, it has given a return of 139.59%.
On 13 September 2023, Blue Dart rebranded and re-introduced its economical speed trucking solution service Dart Plus as Bharat Dart. The decision seems to be based on the company’s objective of “Connecting People, Improving Lives”. Bharat Dart will be known for its time sensitive delivery which is now backed by speed, security and other value- added features.
As per its financial data, the company made a revenue of Rs. 1237.55 crore in Q1FY23, an increase of 1.7% from Rs. 1216.55 crore in Q4FY23. However, its net profit has declined by 11.7% from Rs. 69.44 crore in Q4FY23 to Rs. 61.28 crore in Q1FY24. It has a low debt to equity ratio of 0.21. The company has a good average ROE for the last three years of 35.72.
Blue Dart Express is an integrated transport and logistics company based in India. The company delivers in any part of the nation through its seamless and reliable delivery techniques. Blue Dart has one of the largest transport and logistics networks in more than 200 countries through its distribution services.
Written by Bhumika Khandelwal
