Mumbai: Blue Dart Express Ltd reported an 18.8 percent year-on-year decline in standalone net profit to Rupees 43.22 crore in Q4 FY26, impacted by exceptional employee-related expenses linked to the implementation of new labour codes. Revenue from operations for the March quarter, however, rose 8.2 percent to Rupees 1,533.47 crore from Rupees 1,417.32 crore in the corresponding quarter last year. Sequentially, profit declined sharply from Rupees 70.04 crore reported in Q3 FY26, while revenue moderated from Rupees 1,616.16 crore.
Revenue Growth Continues Amid Cost Pressures
Total income for the quarter stood at Rupees 1,551.65 crore compared with Rupees 1,437.88 crore in Q4 FY25. Freight, handling, and servicing costs increased to Rupees 1,079.94 crore from Rupees 1,003.94 crore in the year-ago period, while employee benefit expenses rose to Rupees 204.13 crore from Rupees 181.76 crore.
The company reported profit before tax of Rupees 64.74 crore against Rupees 78.24 crore in Q4 FY25. Total expenses during the quarter increased to Rupees 1,486.78 crore from Rupees 1,359.64 crore a year earlier. Earnings per share declined to Rupees 18.22 from Rupees 22.43 in the corresponding quarter last year.
Labour Code Provision Impacts Earnings
Blue Dart recognised exceptional expenses of Rupees 44.36 crore during FY26 arising from the implementation of the new labour codes notified by the Government of India. The company said the impact included higher employee benefit expenses of Rupees 21.86 crore and increased freight, handling, and servicing costs of Rupees 22.50 crore. These expenses were presented as exceptional items in the standalone statement of profit and loss.
Sequentially, standalone profit after tax declined 38.3 percent from Rupees 70.04 crore in Q3 FY26, while consolidated quarterly PAT stood at Rupees 48.85 crore compared with Rupees 68.33 crore in the preceding quarter. Finance costs during Q4 FY26 stood at Rupees 11.67 crore against Rupees 7.54 crore in Q4 FY25.
FY26 Revenue Crosses Rupees 6,100 Crore
For the full financial year FY26, Blue Dart reported standalone revenue from operations of Rupees 6,140.88 crore compared with Rupees 5,720.18 crore in FY25, registering growth of 7.4 percent. Annual net profit stood at Rupees 239.39 crore against Rupees 244.63 crore in the previous year. Consolidated net profit for FY26 came in at Rupees 275.92 crore compared with Rupees 249.18 crore in FY25.
The board recommended a final dividend of Rupees 25 per equity share for FY26, subject to shareholder approval at the upcoming annual general meeting. Statutory auditors Deloitte Haskins & Sells LLP issued an unmodified opinion on both standalone and consolidated financial results.
Disclaimer: This report is based on audited financial results filed by the company and is not investment advice.
