Mubasher: Deutsche Post DHL Group registered a plummet of 77% in net profits during the third quarter of 2018 compared to the same period a year ago.

Consolidated net profits shrank to EUR 146 million ($167 million) in Q3-18 from EUR 641 million in Q3-17, according to a recent statement.

Revenues rose by 1.4% year-on-year to EUR 14.8 billion in Q3-18; this increase was attributable to Deutsche Post’s growing e-commerce unit.

Operating profits (EBIT) stood at EUR 376 million in Q3-18 when compared to EUR 834 million in the same period a year ago; this income was fully in line with Deutsche Post's forecasts.

Speaking to CNBC's "Squawk Box Europe" on Tuesday, the CEO of Deutsche Post DHL Group Frank Appel said, "E-commerce is a major driver of our growth and we have seen very profitable growth along many years and that will continue. We had some short-term challenges and we are fixing that, but the underlying growth and the profitable growth will continue without a doubt."