Delhivery Q3 results: Logistics firm turns profitable, revenue jumps by 20% YoY to ₹2,194 crore

Delhivery Q3 results: Logistics company Delhivery reported a net profit of ₹11.7 crore in the October- December 2023 quarter. The company's consolidated net revenue increased by 13% QoQ to ₹2,194 crore against ₹1,941 crore in the previous quarter. 

Its net consolidated revenue increased 20.32% YoY against ₹1,823 crore in the year-ago period. The unicorn logistics firm reported a significant reduction in its net loss to ₹103 crore in the July-September quarter of FY 24. Its net consolidated loss stood at ₹195.6 crore in Q3 FY23.

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The company's earnings before interest, taxes, depreciation, and amortisation (EBITDA) increased by ₹183 crore YoY to ₹109 crore in Q3 FY24. Delhivery had reported an EBITDA loss of ₹72 crore in Q3 FY23. Its express parcel shipments witnessed a robust growth of 18% YoY, with shipment volume rising to 201 million in Q3 FY24 from 170 million in Q3 FY23. 

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

The revenue of the logistics company increased by 21% YoY to ₹1,448 crore in Q3 FY24 from ₹1,200 crore in Q3 FY23.  Its part truckload freight volumes improved by 37% annually to 354K tons during the quarter under review against 258K tons in the year-ago period. 

Delhivery shares closed 0.75% higher at ₹472.9 per share on BSE on Friday. The company shares touched their 52-week-high mark of ₹478.70 per share on BSE on February 2. The share value of Delhivery has improved by 22.99% Year to Date (YTD) and by 54.54% in the last year.