Higher operating costs hit Blue Dart's EBITDA, even as revenue grew year-on-year
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Shares of Blue Dart Ltd. dropped on Monday after the company reported a subdued operating performance due to higher operating costs.
However, operating profit took a hit on account of higher costs, especially of fuel and movement of goods. Consolidated EBITDA came in at Rs 242.99 crore compared to Rs 275.24 crore, a drop of 11.7 percent.
EBITDA margin stood at 0.18 percent from 0.24 percent during the same period last year.
Blue Dart Aviation is looking to expand its fleet with two Boeing 737 aircraft. This aircraft can reach small airports to increase connectivity.
At 10:20 am on Monday, the Blue Dart stock was trading at Rs 7,783.70, down 2.15 percent, on the BSE, while the Sensex was up 608.72 points, or 1 percent, to 60,568.57.
Shares of Blue Dart are trading 3.3 percent lower at Rs 7,680 as of 12 noon. The stock is up 19 percent this year and has outperformed most of its peers.