1 min read
. Updated: 22 Sep 2020, 03:48 PM IST
Edited By J. Jagannath
- The company said average shipment price increase will be 9.6% as compared to 2020
- Customers signing up from 1 October, 2020 to 31 December, 2020 will not be impacted by the price increase
New Delhi: Logistics major Blue Dart Express on Tuesday announced price increase effective from 1 January, 2021. The company said average shipment price increase will be 9.6% as compared to 2020. After the announcement, the company’s stock on BSE rose at a time when the broader indexes were subdued.
The stock closed 3.6% higher at ₹2,689.95. Other logistics stocks too rose. Snowman Logistics closed 0.75% higher at ₹33.55 while Gati rose 5.66% at ₹49.5
Customers signing up from 1 October, 2020 to 31 December, 2020 will not be impacted by the price increase.
The company said it adjusts its prices annually, taking into account inflation, currency dynamics, fuel cost fluctuations and other rising regulatory and mandatory costs, such as expenses related to compliance for the workforce with enhanced security regulations.
Blue Dart Express reported a consolidated net loss of ₹125.84 crore in the April-June quarter, hit by coronavirus induced lockdowns.
The company had posted a consolidated net profit of ₹5.99 crore in the corresponding quarter a year ago, the company said in a BSE filing.
Its total income on a consolidated basis reduced to ₹418.83 crore during the quarter under review as against ₹794.73 crore in the corresponding period last year.
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