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Blue Dart Express Shares Gain 2% as Arm Purchased Two Leased Aircrafts

The aircraft purchased are being operated on a lease by Blue Dart Aviation.

Blue Dart Express shares were trading in the green and 2% higher on 11 December after its subsidiary purchased two leased aircraft.

In its regulatory filing, the company said, “The board of directors have noted and approved purchase of two leased Aircrafts by Blue Dart Aviation Ltd. (BOAL), a wholly owned subsidiary of the company from DHL Aviation (Netherlands) B.V. (DHL NL), a fellow subsidiary company for an amount of approximately Rs 40 crore.”

The aircraft purchased are being operated on a lease by Blue Dart Aviation.

In November, the company inaugurated 40 new franchisees and company-owned retail outlets and announced its further plans for nationwide expansion.

In its regulatory filing on 30 September, the company announced its decision to implement a general price increase that will be effective from January 2024.

In its quarterly report for July-September, the company reported a 22.5% year-on-year (YoY) decline in its net profit to Rs 71.29 crore.

The shares hit a 52-week high of Rs 7,934 and a 52-week low of Rs 5,633 on 2 January 2023 and 8 May 2023, respectively.

At 11:53 am, the shares of Blue Dart Express were trading 2.38% higher at Rs 7,560 on NSE.

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