NEW DELHI, May 14 -- Shares of Blue Dart Express Ltd have risen as much as 77% compared to its pre-covid highs. The firm's market capitalization is now close to its highest in over four years.
Blue Dart has reported a consistent improvement in performance in the past three quarters. Standalone revenues increased 33% year-on-year (y-o-y) to '966 crore in the March quarter (Q4FY21). To some extent, a favourable base helped, considering that revenues had declined by 7% in Q4FY20. But even compared to the average quarterly revenue of '792 crore in FY20, growth was impressive last quarter at 22%.
"In FY21, Blue Dart Express has gained immensely from the exploding e-commerce industry and we believe revival of the documentation business is likel...