Blue Dart, the air and integrated logistics company, has announced plans to implement a 9.6% general price increase, effective from January 2024. This price hike, as per a regulatory filing on September 30, will be influenced by shipping profiles. The decision was made in response to various factors, including macroeconomic conditions, geopolitical tensions, monetary and fiscal policies, inflationary pressures, and exchange rate fluctuations, all of which impact the company's cost structure. However, customers signing up between October 1 and December 31 will not be affected by this price adjustment.
Belfour Manuel, Managing Director of Blue Dart, emphasized that these annual price adjustments are instrumental in directing investments into the company's infrastructure and vehicle fleets. They also enable the expansion of hubs and gateways to meet customer demands. He stated that the rate adjustment primarily aligns with inflation and empowers the company to maintain service excellence while addressing rising costs. Blue Dart also has plans to invest in IT infrastructure to ensure data security and deliver a world-class user experience.
In the quarter ending June 2023, Blue Dart reported net sales of Rs 1,237.55 crore, reflecting a 4.81% decrease compared to the same period in 2022 when net sales were Rs 1,300.05 crore. Net profit for the June 2023 quarter decreased by 48.41% to Rs 61.28 crore. Earnings before interest, taxes, depreciation, and amortization (EBITDA) for the same quarter stood at Rs 200.87 crore, down by 26.68% from Rs 273.96 crore in June 2022.
Blue Dart is known for being an express air, integrated transportation, and distribution company, offering delivery services for consignments across India. On September 29, Blue Dart's shares closed at Rs 6,647.20 apiece on BSE, registering a 0.31% decrease from the previous close.
