Blue Dart Express conducted its Q3 FY2026 earnings call on February 9, 2026, discussing results for the quarter and nine months ending December 31, 2025. The company reported revenue of INR 16,161 million and a Profit After Tax of INR 700 million for the quarter. Management highlighted resilient domestic demand, driven by strong SME activity and key contributions from Tier 2 and Tier 3 markets. The firm also operationalized its new integrated hub in Pataudi, Haryana.
Q3 FY2026 Financial Highlights
Blue Dart Express announced its financial performance for the quarter and nine months ending December 31, 2025. For the quarter, the company posted revenue from operations of INR 16,161 million and achieved a Profit After Tax of INR 700 million. CFO Sagar Patil noted a 7% revenue growth alongside improved profitability levels across the last two quarters, reflecting steady operational discipline.
Operational Developments and Capacity Investments
The management confirmed the operationalization of its flagship green integrated hub at Pataudi, Haryana, which enhances linehaul connectivity and service reliability across North India. Tonnage for the quarter stood at 374,884 tons, with 107.4 million shipments handled. The company continues its long-term strategy of selective investment in customer-facing and operational capabilities.
Segment Performance: E-commerce vs. Ground
E-commerce remained a key driver, accounting for approximately 30% to 31% of overall revenue this quarter. Within this, e-commerce light surface growth is significantly outpacing e-commerce air. Ground surface revenue share, including B2B, was reported at around 28.6%, though this segment growth was noted as slightly slower compared to e-commerce air and light surface. Overall, management sees both B2B surface and B2C surface as future growth drivers.
Margin Outlook and Pricing Initiatives
Margins for the quarter benefited from the extended festive period (October through December). Regarding pricing, management confirmed that a price hike announced in October (ranging between 9% to 12% for individual customers) is being processed, with full realization expected over the coming months. The company stated it will continue to work towards improving margins further over the medium to long term, targeting levels previously seen post-COVID.
Capacity Utilization: Air and Ground
Regarding air capacity, daily theoretical capacity is estimated between 450 to 550 tons per day. Pallet utilization for the scheduled fleet remains healthy at 85% to 90%. Management emphasized that growth in air volumes can be absorbed through utilizing commercial airliners, noting that the air business is more stable. Ground capacity, involving vehicle deployment, is considered completely variable and currently running at optimum levels.
Capex Guidance
For capital expenditure, excluding lease accounting, the company typically expects capex to range between INR 100 crores to INR 150 crores, largely directed towards the replacement or expansion of existing smaller and medium-level facilities across India.
Source: BSE
