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BLUE DART EXPRESS Announces Quarterly Results (3QFY19); Net Profit Down 31.1%

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BLUE DART EXPRESS Announces Quarterly Results (3QFY19); Net Profit Down 31.1%
Fri, 1 Feb

BLUE DART EXPRESS has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:

BLUE DART EXPRESS Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m7,0467,9798,5557.2%21.4%
Other incomeRs m584744-6.2%-24.7%
TurnoverRs m7,1048,0268,5987.1%21.0%
ExpensesRs m6,2417,5777,9545.0%27.4%
Gross profitRs m80540260149.3%-25.4%
DepreciationRs m11111112513.0%13.0%
InterestRs m6140427.1%-30.8%
Profit before taxRs m69129947759.7%-31.0%
TaxRs m2368516391.2%-30.8%
Profit after taxRs m45521331447.1%-31.1%
Gross profit margin%11.45.07.0
Effective tax rate%34.228.634.2
Net profit margin%6.42.73.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 21.4% on a year-on-year (YoY) basis. The expenses were up by 27.4% YoY during the same period.
  • The company's operating profit declined by 25.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 7.0% in 3QFY19 as against 11.4% in 3QFY18.
  • Depreciation charges increased by 13.0% and finance costs declined by 30.8% YoY, respectively.
  • Other income declined by 24.7% YoY during the quarter.
  • Net profit for the quarter declined by 31.1% YoY. Net profit margins during the quarter declined from 6.4% in 3QFY18 to 3.6% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 7.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 5.0% QoQ during the same period.
  • The company's operating profit increased by 49.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 7.0% in 3QFY19 as against 5.0% in 2QFY18.
  • Net profit for the quarter increased by 47.1% QoQ, while net profit margins increased from 2.7% in 2QFY18 to 3.6% in 3QFY19.

To see how BLUE DART EXPRESS has performed over the last eight quarters, please visit here.

BLUE DART EXPRESS Share Price Performance

Over the last one year, BLUE DART EXPRESS share price has moved up from Rs 4,644.7 to Rs 3,172.8, registering a Loss of Rs 1,471.9 or around 31.7%.

Overall, the S&P BSE SENSEX is up 1.2% over the year.

Current Valuations

At the current price of Rs 3,172.8, the price to earnings (P/E) ratio of BLUE DART EXPRESS stands at 69.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 14.2 times.

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For the quarter ended September 2018, BLUE DART EXPRESS has posted a net profit of Rs 213 m (down 48.5% YoY). Sales on the other hand came in at Rs 8 bn (up 13.5% YoY). Read on for a complete analysis of BLUE DART EXPRESS's quarterly results.

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