BLUEDARTBlue Dart Express Ltd.
Blue Dart Express Q2 FY27 Results: Consolidated Net Profit ₹104 Crore on Total Income of ₹1,790 Crore
- Earnings
- logistics
Reviewed byRachit TripathiBlacklitt Research
Blue Dart Express (NSE: BLUEDART) reported total income of ₹1,790.02 crore and net profit of ₹103.89 crore on a consolidated basis for the quarter ended 30 Sep 2026, it said in a filing on 06 Nov 2026. Standalone total income was ₹1,797.69 crore and standalone net profit ₹101.99 crore.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹1,790.02 crore, up 14.8% YoY and 7.0% QoQ
- Net profit and EPS: ₹103.89 crore, up 27.7% YoY and 17.4% QoQ; basic EPS ₹43.79
- Other income: ₹16.09 crore, up 67.8% YoY, 0.9% of total income
- Finance costs: ₹21.35 crore, down 1.7% YoY
Standalone
The company on its own, without its subsidiaries
- Total income: ₹1,797.69 crore, up 14.6% YoY and 7.0% QoQ
- Net profit and EPS: ₹101.99 crore, up 28.3% YoY and 17.7% QoQ; basic EPS ₹42.98
- Other income: ₹23.76 crore, up 22.8% YoY, 1.3% of total income
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 1,790.02 | 1,558.92 | +14.8% | 1,673.13 | +7.0% | |
| Revenue from operations | 1,773.93 | 1,549.33 | +14.5% | 1,657.72 | +7.0% |
| Other income | 16.09 | 9.59 | +67.8% | 15.41 | +4.4% |
| 103.89 | 81.38 | +27.7% | 88.49 | +17.4% | |
| Finance costs | 21.35 | 21.72 | -1.7% | 20.60 | +3.6% |
| Depreciation | 143.74 | 130.53 | +10.1% | 136.99 | +4.9% |
| Tax expense | 33.98 | 27.92 | +21.7% | 30.55 | +11.2% |
| Net profit margin | 5.80% | 5.22% | +0.58 pp | 5.29% | +0.51 pp |
| Tax as share of profit before tax | 24.6% | 25.5% | -0.90 pp | 25.7% | -1.02 pp |
| EPS, basic (₹) | 43.79 | 34.30 | +27.7% | 37.29 | +17.4% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Consolidated net profit grew faster than total income. Net profit rose 27.7% year on year to ₹103.89 crore, while total income rose 14.8%. Revenue from operations rose 14.5% to ₹1,773.93 crore, and other income rose 67.8% to ₹16.09 crore, which is 0.9% of total income. Profit before tax rose 26.1%, and the tax charge rose 21.7%, so the effective tax share of profit before tax eased to 24.6% from 25.5%.
Other income is a small share of the total, so most of the income growth is from revenue from operations. The press release attributes the quarter's performance to an improved product mix, better yield realisation and continued service optimisation, with a focus on unit cost efficiency. The filing does not quantify how much each of these contributed.
Depreciation rose 10.1% to ₹143.74 crore, slower than income. Finance costs of ₹21.35 crore were 1.2% of total income and 1.7% lower than a year earlier, based on the figure in the consolidated statement.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 1,797.69 | 1,568.68 | +14.6% | 1,679.69 | +7.0% | |
| Revenue from operations | 1,773.93 | 1,549.33 | +14.5% | 1,657.72 | +7.0% |
| Other income | 23.76 | 19.35 | +22.8% | 21.97 | +8.1% |
| 101.99 | 79.50 | +28.3% | 86.68 | +17.7% | |
| Finance costs | 12.34 | 10.54 | +17.1% | 11.17 | +10.5% |
| Depreciation | 68.66 | 59.40 | +15.6% | 64.62 | +6.3% |
| Tax expense | 33.10 | 27.09 | +22.2% | 29.71 | +11.4% |
| Net profit margin | 5.67% | 5.07% | +0.61 pp | 5.16% | +0.51 pp |
| Tax as share of profit before tax | 24.5% | 25.4% | -0.91 pp | 25.5% | -1.02 pp |
| EPS, basic (₹) | 42.98 | 33.50 | +28.3% | 36.53 | +17.7% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit rose 28.3% year on year to ₹101.99 crore, against 14.6% growth in total income to ₹1,797.69 crore. The standalone figure matches the profit after tax quoted in the press release. Standalone other income rose 22.8% to ₹23.76 crore, and standalone finance costs of ₹12.34 crore were 0.7% of total income.
Consolidated net profit of ₹103.89 crore is ₹1.90 crore above standalone, and consolidated total income is ₹7.67 crore below standalone. The gap between the two sets of results is not explained in the filing.
The consolidated results include Blue Dart Aviation Limited and Concorde Air Logistics Limited as wholly owned subsidiaries. The company has one operating segment, integrated air and ground transportation and distribution, with all assets in India. The statutory auditors, Deloitte Haskins & Sells LLP, carried out a limited review of both sets of results and reported no qualifications.
Inference
The company paid a final dividend of ₹25 per share, face value ₹10, for the year ended 31 Mar 2026 during the quarter, aggregating ₹59.32 crore, as approved at the AGM held on 22 Sep 2026.
After the quarter ended, the company entered into strategic partnerships to explore new avenues for parcel movement and deepen its reach into rural India. The filing does not say the nature, size or financial effect of these partnerships, and it is not known from the filing what they will add to results.
Filed with BSE on . Reference: Original filing (PDF)
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