News: BlueDart Q1FY23 revenues grew 11% QoQ to Rs 1293 crore, led completely by 11% volume growth to 27.8 crore kgs, while the QoQ realisation remained flattish at Rs 45.5 per kg. However, EBITDA de-grew 8% to Rs 267 crore (Rs 9.6/kg compared to QoQ Rs 11.7/kg), mainly due to 322 bps expansion in freight and handling costs. Subsequently, PAT de-grew 13% to Rs119 crore.
Views: The company has initiated plans to add two Boeing 737-800 freighter aircraft in FY23 and expects to expand to more tier 2 cities using the new aircrafts. Similarly the company is expanding it ground hub and network to handle expected growth in volumes
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