Blue Dart Express, an Indian delivery services provider controlled by Deutsche Post DHL Group, reported a 3% rise throughout quarterly earnings on Friday, riding a disease outbreak online sales rise.
For the three months ended September 30, net profit increased to 936.4 million Indian rupees ($11.36 million) from 905.5 million Indian rupees the previous year.
Blue Dart, which began with a capital base of now over $350 almost four decades ago, reported an increase in revenue from operations of well almost 18% to 13.25 billion rupees.
"India's economic recovery from COVID-19, as well as other current economic and geopolitical uncertainties around the world, is progressing well and will continue," said Managing Director Balfour Manuel.
Digital shopping have stayed strong, with supply from smaller towns and cities especially strong, as persons have embraced the convenience of shopping from of the comfort of their own homes after experimenting with it during coronavirus lockdowns.
To capitalize on rising demand while protecting profitability from increased input costs as well as rate of interest, Blue Dart announced late last month that average shipment prices from next year will be nearly 10% higher than in 2022.
Blue Dart's core revenue profit was 18.9% in the third quarter, down from 21.9% the previous year, despite total expenses rising nearly 24%.
Blue Dart said that higher wages increased servicing costs, while high prices for jet fuel as well as a strong dollar also impacted its effectiveness during the quarter.
Blue Dart, its air cargo operation has stronger profits than its freight traffic division, said earlier this year that it will add two freight planes for approximately 3.6 billion rupees and enhance capacity by much to 20%.
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