The company had undertaken cost restructuring exercises in Q2 and Q3 of FY20 to bring down costs
Weak margin performance in the March quarter and lack of revenue visibility in the near term led to a 3.4 per cent dip in the stock price of Blue Dart Express. India’s largest listed logistics company by market capitalisation reported a 7 per cent fall in revenues due to an estimated Rs 100 crore revenue loss towards the end of March. Volume decline was higher than overall revenue fall as the company raised prices for select customers in January and February.
The near-term outlook for revenues is likely to be muted due to the extended lockdown and factory shutdowns. The company is shipping pharmaceutical products (under 10 per cent of sales) and has introduced a 25 per cent discount for
First Published: May 27 2020 | 5:53 PM IST