Delhivery Reports Profit of INR 11.7 Cr in Q3 FY24
- Logistics firm Delhivery achieves profitability, reporting INR 11.7 Cr consolidated profit after tax in Q3 FY24.
- Delhivery experiences an 18% YoY growth in express parcel shipments, reaching 201 Mn in Q3 FY24.
- Delhivery achieves its highest-ever quarterly EBITDA of INR 109 Cr, showcasing the strength of its business model.
Logistics company Delhivery achieved profitability in the last quarter of 2023, recording a consolidated profit after tax (PAT) of INR 11.7 Cr. This is a significant improvement compared to the net loss of INR 195.6 Cr reported in the same quarter of the previous year and the net loss of INR 102.9 Cr in the preceding September quarter of 2023.
Delhivery experienced an 18% year-on-year growth in express parcel shipments during the quarter, with shipment volume reaching 201 Mn from 170 Mn in Q3 FY23. Revenue from express parcel services also grew by 21% to INR 1,448 Cr in Q3 FY24 from INR 1,200 Cr in Q3 FY23.
Additionally, the company's partial truckload (PTL) volumes increased by 37% YoY to 3.54 Lakh tonnes, generating a revenue of INR 379 Cr in the quarter. In the same quarter of the previous year, Delhivery earned a revenue of INR 277 Cr from this vertical.
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The company's highest-ever quarterly EBITDA of INR 109 Cr demonstrates the strength and operating leverage of its business model. Delhivery's MD and CEO, Sahil Barua, expressed satisfaction with the robust network quality during the peak season and stated that the company has established sufficient infrastructure and capacity for continued growth in FY25.
Furthermore, Delhivery launched its trucking terminal near Bhiwandi in Maharashtra.
Edited by Shruti Thapa
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