Logistics company Blue Dart Express Ltd. has announced the opening of 25 retail outlets in Tier-I and Tier-II towns across India as part of its expansion plans.
These stores are located in several states such as Uttarakhand, Haryana, Uttar Pradesh, Rajasthan, Punjab, West Bengal, Andhra Pradesh, Kerala, Goa, Karnataka, Maharashtra, Odisha, Gujarat, and Telangana.
The company has plans to set up another 100 to expand its presence and strengthen connectivity.
Blue Dart's store expansion will increase accessibility for customers and expand the company's network. Blue Dart courier currently serves over 55,400 locations across India.
Currently, Blue Dart has over 700 retail stores.
For the September quarter, Blue Dart reported an 18 percent year-on-year increase in overall revenue.
However, operating profit took a hit on account of higher costs, especially of fuel and movement of goods. Consolidated EBITDA came in at Rs 242.99 crore compared to Rs 275.24 crore, a drop of 11.7 percent.
Some of the near-term triggers for the company include the festive season which will impact the company's December quarter results. The company will implement a price hike of 9.6 percent from December this year.
Blue Dart Aviation is looking to expand its fleet with two Boeing 737 aircraft. This aircraft can reach small airports to increase connectivity.
Shares of Blue Dart are trading little changed at Rs 7,415.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
2024 Lok Sabha Elections | Will Amethi and Rae Bareli see the rise of Priyanka Gandhi as a dominant political figure
May 18, 2024 8:59 AM
Lok Sabha Election 2024: I.N.D.I.A. bloc to hold rally at Mumbai's BKC today
May 17, 2024 5:18 PM
In Ayodhya, voters talk of a promise fulfilled and yearning for development
May 17, 2024 2:10 PM
Fight of heavyweights in Sambalpur where farmers, weavers hold the key
May 17, 2024 12:25 PM