Blue Dart Q2 FY27 profit rises 8.7% as revenue gains 14.5%

Blue Dart Express Limited reported consolidated net profit of Rs 88.49 crore for the quarter ended September 30, 2026, an 8.7% increase from Rs 81.38 crore a year earlier, as revenue from operations rose 14.5% to Rs 1,773.93 crore. Profit before tax increased faster, by 20.6% to Rs 131.81 crore.

What did Blue Dart report in Q2 FY27?

Blue Dart reported total income of Rs 1,790.02 crore in the quarter ended September 30, 2026, compared with Rs 1,565.21 crore in the corresponding quarter of FY26. Revenue from operations was Rs 1,773.93 crore, up from Rs 1,549.33 crore, while other income was Rs 16.09 crore compared with Rs 15.88 crore.

Blue Dart’s net profit was Rs 88.49 crore in Q2 FY27, against Rs 81.38 crore in Q2 FY26 and Rs 103.89 crore in the preceding quarter ended June 30, 2026. Basic and diluted earnings per share, which are not annualised, were Rs 37.29 for Q2 FY27, compared with Rs 34.30 a year earlier and Rs 43.79 in Q1 FY27.

Why did Blue Dart’s net profit rise less than profit before tax?

Blue Dart’s profit before exceptional items and tax was Rs 137.87 crore in Q2 FY27, compared with Rs 109.30 crore in Q2 FY26. The September 2026 quarter included an exceptional item of Rs 6.06 crore, reducing reported profit before tax to Rs 131.81 crore; the corresponding quarter in FY26 did not report an exceptional item.

Blue Dart recorded total tax expense of Rs 43.32 crore in Q2 FY27, compared with Rs 27.92 crore in Q2 FY26. The Rs 15.40 crore year-on-year increase in tax expense, together with the Rs 6.06 crore exceptional item, meant net profit rose 8.7%, below the 20.6% increase in reported profit before tax.

How did Blue Dart’s operating costs change in Q2 FY27?

Blue Dart’s total expenses were Rs 1,652.15 crore in Q2 FY27, compared with Rs 1,440.03 crore in Q2 FY26. The 14.7% increase in total expenses was close to the 14.4% rise in total income, while the difference between total income and expenses produced profit before exceptional items and tax of Rs 137.87 crore.

Freight, handling and servicing costs were Rs 966.05 crore in Q2 FY27, compared with Rs 883.50 crore in Q2 FY26. Employee benefits expense rose to Rs 292.95 crore from Rs 267.34 crore over the same comparison, and depreciation and amortisation expense was Rs 167.67 crore in the September 2026 quarter.

The sequential comparison was different from the year-on-year result. Total expenses were Rs 1,554.09 crore in Q1 FY27, while total income was Rs 1,673.13 crore, resulting in Q1 profit before tax of Rs 103.89 crore after the amounts reported in the quarterly statement. Q2 revenue was higher than Q1 revenue of Rs 1,657.72 crore, but Q2 net profit was lower.

What were Blue Dart’s first-half FY27 results?

Blue Dart generated revenue from operations of Rs 3,431.65 crore in the half year ended September 30, 2026, compared with Rs 2,991.25 crore in the year-earlier half year. Total income increased to Rs 3,463.15 crore from Rs 3,010.70 crore, as the six-month period combined the June and September 2026 quarters.

Blue Dart’s first-half profit before tax was Rs 256.91 crore, compared with Rs 175.23 crore in the first half of FY26. Net profit increased to Rs 192.38 crore from Rs 132.17 crore, and earnings per share rose to Rs 81.08 from Rs 54.88. The half-year profit increase exceeded the Q2 increase because the June 2026 quarter reported net profit of Rs 103.89 crore.

What do Blue Dart’s balance sheet and cash flows show?

Blue Dart had consolidated total assets of Rs 4,249.07 crore as at September 30, 2026, compared with Rs 4,126.85 crore as at March 31, 2026. Non-current assets were Rs 2,340.27 crore, down from Rs 2,375.05 crore, while current assets increased to Rs 1,908.80 crore from Rs 1,751.80 crore.

Trade receivables were Rs 1,052.83 crore at September 30, 2026, compared with Rs 918.25 crore at March 31, 2026. Cash and cash equivalents were Rs 127.24 crore at the September half-year end, down from Rs 238.00 crore at the start of the financial year. Investments were Rs 535.95 crore at September 30, 2026, versus Rs 412.56 crore at March 31, 2026.

Net cash generated from operating activities was Rs 424.72 crore for the half year ended September 30, 2026, compared with Rs 269.74 crore in the prior-year half. Payments for property, plant and equipment and intangible assets were Rs 183.95 crore, against Rs 124.50 crore a year earlier, while net cash used in investing activities was Rs 286.82 crore.

Net cash used in financing activities was Rs 248.66 crore in H1 FY27, compared with Rs 220.60 crore in H1 FY26. This included Rs 153.35 crore for the principal portion of lease liabilities, Rs 35.33 crore for interest on lease liabilities and Rs 59.32 crore of dividend paid. The dividend related to the final dividend of Rs 25 per share approved at the annual general meeting on September 22, 2026.

Conclusion

Blue Dart’s Q2 FY27 results show revenue growth of 14.5% and a 20.6% increase in profit before tax, while consolidated net profit increased 8.7% to Rs 88.49 crore. The difference reflects the Rs 6.06 crore exceptional item and a tax expense of Rs 43.32 crore, compared with Rs 27.92 crore in Q2 FY26.

The filing does not disclose a revenue target, earnings target or operational outlook for subsequent quarters. The next reported results will show whether Blue Dart can sustain first-half revenue growth of 14.7%, alongside changes in trade receivables of Rs 1,052.83 crore, cash and cash equivalents of Rs 127.24 crore, and capital spending of Rs 183.95 crore in H1 FY27.