Blue Dart 's Q2 profits land low; stock down 4 per cent

South Asia's premier express air and integrated transportation, distribution and logistics Company, Blue Dart Express has declared its financial results for the quarter ended September 30, 2016. Profit for the quarter has declined by 20.37 per cent to Rs 42.8 crore.

Total income for the quarter ending September 30 has come in at Rs 663.2 crore as against Rs 651.44 crore, representing a decline of 1.81 per cent. EBITDA for Q2 stands at Rs 74.81 crore as compared to Rs 92.75 achieved in the corresponding quarter of the previous year, thereby registering a decrease of 19.34 per cent. Margins also saw pressure for the quarter in consideration, as they declined by 296 basis points.

"We will continue to invest in technology and infrastructure and align our people and strategy to cater to India's express logistics requirements," Blue Dart's managing director, Anil Khanna said.

Shares of Blue Dart corrected by close to 4 per cent to Rs 5362 in trade due to a poor quarterly performance. Stock has been a rank under-performer in the past quarter or so.