Air and integrated logistics company Blue Dart announced a decision to implement a General Price Increase, effective January 2024. According to a regulatory filing on September 30, the price increase will be 9.6 percent as compared to 2023, depending on the shipping profile.
According to Blue Dart, the decision was taken keeping in mind the macro economic conditions, geopolitical tensions, tighter monetary and fiscal policies, inflationary pressures and exchange rate fluctuations. All these factors, the filing said, impacts cost structure.
The logistics major is also planning investments in IT infrastructure to “ensure data security and delivering world class user experience.”
Meanwhile, shares of Blue Dart on September 29 closed 0.31 percent lower at Rs 6,647.20 apiece on BSE.
For the quarter ending June 2023, Blue Dart reported net sales of Rs 1,237.55 crore, down 4.81 percent year on year, compared to Rs. 1,300.05 crore in June 2022. Net profit for the quarter was also down 48.41 percent to Rs 61.28 crore for the same period. Earnings before interest, taxes, depreciation and amortisation stood at Rs 200.87 crore for the June 2023 quarter, 26.68 percent down from Rs. 273.96 crore in June 2022.
