Best Fast Dropshipping Service & Business India

MUMBAI: Delhivery Ltd saw a further improvement in earnings, with the company reporting a consolidated net profit of Rs 11.2 crore for the quarter ended December, against a loss of Rs 196 crore a year ago and Rs 103 crore a quarter ago.

Consolidated revenue from operations rose 20.3% year-on-year (YoY) to Rs 2,194 crore.

The numbers were better than expected, as most analysts had estimated a loss for the logistics solutions provider.

“We are satisfied that the network quality remained robust even through the peak season. The highest-ever quarterly EBITDA demonstrates the underlying strength and operating leverage in our business model. We have established adequate infrastructure and capacity for continued growth in FY25,” said Sahil Barua, MD and CEO of Delhivery.

During the reported quarter, the company operationalised its largest gateway in Lonad, near Bhiwandi in Maharashtra. The facility has 196 docking stations from which over 1,600 vehicles can transit daily.

The facility is equipped with state-of-art automation and material conveyance systems and is designed to process 700,000 shipments and 8,000 metric tonnes of freight per day, the company said.

During the quarter, the company incurred a one-time cost of Rs 7.75 crore towards impairment of goodwill and intangible assets.

For the nine months ended December, Delhivery’s revenue grew 13% YoY to Rs 6,066 crore, and loss narrowed sharply to Rs 181 crore from Rs 849 crore a year ago.

On Friday, shares of Delhivery ended nearly 1% higher on the BSE at Rs 472.90.

  • Published On Feb 2, 2024 at 05:25 PM IST

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Best Fast Dropshipping Service & Business India

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