Shares of BlueDart, the courier and logistics major, ended 1.34 percent higher at Rs 6,080.10 on Monday despite hitting a fresh 52-week low earlier in the session.
The company’s shares opened higher at Rs 6,147.85 apiece on the NSE on Monday but soon fell to a fresh 52-week low of Rs 5,725.50. The shares also hit a 52-week low of Rs 5,843.15 apiece on the BSE.
The company’s stock has dropped by nearly a quarter since the start of the year. BlueDart’s stock has fallen in value by 23.14 percent since January 2, the first trading session of 2023. Shares of the company have dropped 21 percent in the first half of the year.
The stock has been relatively on a steady decline since October 2022 when the company posted its 52-week high at Rs 9,640 apiece.
BlueDart's December quarter net profit fell by 28.2 percent to Rs 88.66 crore compared to Rs 123.42 crore in the year-ago period. It also dropped sequentially by over 5 percent from Rs 93.64 crore in the September quarter.
On the other hand, while the company’s revenue increased by over 6 percent year-on-year it remained nearly flat compared to the September quarter.
