Courier services provider Blue Dart Express on Friday posted a drop in profit for the fourth quarter in a row, hurt by increased expenses and muted demand.
The company, controlled by Deutsche Post, said consolidated net profit fell nearly 22% to 730.6 million rupees ($8.78 million) in the second quarter.
Why it matters
Logistic companies have been buffeted by a decline in freight rates, increased competition and higher prices of jet fuel, which accounts for a large part of their costs.Earlier this week,Mahindra Logistics posted its third straight quarterly loss.
Blue Dart added two Boeing 737 aircraft in fiscal 2023 to cater to tier-II and tier-III cities, a move, analysts said, would improve its margins.
The company, controlled by Deutsche Post, said consolidated net profit fell nearly 22% to 730.6 million rupees ($8.78 million) in the second quarter.
Why it matters
Logistic companies have been buffeted by a decline in freight rates, increased competition and higher prices of jet fuel, which accounts for a large part of their costs.Earlier this week,Mahindra Logistics posted its third straight quarterly loss.
Blue Dart added two Boeing 737 aircraft in fiscal 2023 to cater to tier-II and tier-III cities, a move, analysts said, would improve its margins.
