Blue Dart climbs on raising shipment price
News Clip: Business Standard
22nd September, 2020
Blue Dart Express rose 2.33% to Rs 2668.25 after the company announced general price increase from 1 January 2021.
The logistics company said the average shipment price increase will be 9.6% compared with 2020, depending on the shipping profile.
The firm said it adjusts its prices annually, taking into account inflation, currency dynamics, fuel cost fluctuations and other rising regulatory and mandatory costs, such as expenses related to compliance for the workforce with enhanced security regulations across the large number of locations it services.
Commenting on the announcement, Balfour Manuel, MD of Blue Dart said, "The General Price Increase will account for the cost we have incurred and invested in our infrastructure and technology to provide in our customer with best experience. We intend on further enhancing our capabilities and especially in light of pandemic."
Blue Dart posted a consolidated net loss of Rs 125.84 crore in Q1 June 2020 as against a consolidated net profit of Rs 5.99 crore in Q1 June 2019. Net sales declined 47.2% to Rs 416 crore in Q1 June 2020 over Q1 June 2019.
Blue Dart Express is South Asia's premier express air and integrated transportation & distribution company. It offers secure and reliable delivery of consignments to over 35,000 locations in India.