India's Blue Dart Express' Q4 profit rises 12% on improved demand

(Reuters) - India's Blue Dart Express reported a rise in fourth-quarter profit on Thursday, aided by strong demand for its logistics services.


Blue Dart, barring a flat Q3, had posted a sequential drop in its profit for the past four quarters, on account of higher interest rates and increasing costs amid tough competition.

The company said its full-year shipment volumes grew 9.5%, signalling robust demand for its freight services. Last month, peer Mahindra Logistics had also indicated a recovery in volumes.


Blue Dart's consolidated net profit rose 12% over the year earlier to 777.8 million Indian rupees ($9.3 million) in the January-March quarter.

It's revenue from operations rose 8.7% to 13.23 billion rupees.

The freight, handling and services costs also rose 7%, taking the company's total expenses up 9%.


"With addition of network and capacities, growth in volumes is picking up additional momentum," Managing Director Balfour Manuel said.

Addition of air route networks by means of acquiring two 737 freighters and some strategic partnerships aided the company's operations in the financial year, he said.

($1 = 83.4516 Indian rupees)

(Reporting by Anisha Ajith in Bengaluru; Editing by Shilpi Majumdar)