Blue Dart Express Limited shares gained 7%, hitting a 52-week high during the morning trades on Monday as it recently shared its financial results for the fourth quarter for the year ended March 31, 2024. 

Blue Dart Express is a company that provides courier and logistics services, one of the leading logistics companies in South Asia.

During this fiscal year, the company recorded a revenue of Rs 5,26,780 lakhs, accompanied by a profit after tax of Rs 28,860 lakhs. This signifies that the revenue levels have been sustained after a significant surge observed in the post-pandemic period. 

For the quarter ended March 31, 2024, the company’s revenue from operations was at Rs 1,32,290 lakhs, with a growth of 8.7%, while the profit after tax is Rs 7610 lakhs, with a growth of 8.1%. This indicates that the growth rates have gained further momentum in the last quarter compared to the full year. 

In the same quarter, the company’s consolidated net profit grew by 12% compared to the same period last year, reaching Rs 77.8 Crore. 

Meanwhile, the shipment volumes grew by 12% year-on-year during the same quarter. In 2024, the shipment volumes grew by 9.5%, while the weights grew by 4.4%.

E-commerce contributed to 30% of the total volumes during the fourth quarter, and the company’s management expects it to be one of the biggest growth drivers due to steady demand. 

The ongoing general elections and seasonality for the first half of FY25 are expected to be muted for logistics players, and analysts at Emkay remain watchful around the sustainability of volume growth and margins for Blue Dart Express. 

The company has proposed a dividend of Rs. 25/- per share payable on 2,37,27,934 Equity Shares of Rs.10/- each. 

At 2:18 pm, the shares of Blue Dart were trading 6.71% higher at Rs 7,279.55 on NSE.