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With 189% rise in Q2 profit, stock of this logistics firm hit 52-week high today

Net profit rose 189% to Rs 42.33 crore in Q2 against Rs 14.64 crore profit in corresponding quarter of previous fiscal. The mid cap stock has gained 15% in the last 2 days

twitter-logoBusinessToday.In | October 30, 2020 | Updated 16:41 IST
With 189% rise in Q2 profit, stock of this logistics firm hit 52-week high today
Share of Blue Dart Express opened with a gain of 3.42% at Rs 3356 against previous close of Rs 3244 on BSE.

Share of Blue Dart Express hit a fresh 52-week high after the firm announced its Q2 earnings today. Net profit rose 189% to Rs 42.33 crore in Q2 against Rs 14.64 crore profit in corresponding quarter of previous fiscal. The mid cap stock has gained 15% in the last 2 days.

The stock has gained 52.51% in one year and risen 68% since the beginning of this year. In one month, Blue Dart Express share has climbed 16.34%. The stock opened with a gain of 3.42% at Rs 3356 against previous close of Rs 3244 on BSE.

It touched an intraday high of Rs 3,784, rising 16.61%. Total 0.24 lakh shares changed hands amounting to turnover of Rs 8.92 crore on BSE. Market cap of the firm rose to Rs 8736 crore.

Later, the share of Blue Dart Express closed 13.47% or Rs 437.05 higher at Rs 3682. Blue Dart Express share stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

InterGlobe Aviation share falls 2.6% on Rs 1,194-crore loss in Q2

In the past three months, the stock has rallied 75 per cent, against a 4.5 per cent rise in the S&P BSE Sensex.

Sales rose 8% to Rs 866.57 crore in last quarter against Rs 802.17 crore in September quarter of last fiscal.

Net freight, handling, and servicing costs declined 8 per cent YoY to Rs 387 crore during the quarter.

In Q2FY21, EBITDA (earnings before interest, taxes, depreciation, and amortisation) margins improved to 26.37 per cent from 15.76 per cent in Q2FY20.

Blue Dart Express said it paid a one-time ex-gratia of Rs 26,238 to each Blue Darter (excluding senior management) in September 2020. This one-time ex-gratia had an impact of Rs 34.2 crore during the quarter. 

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