Delhivery Q4 results: Share price gains over 2% ahead of Q4 earnings
Delhivery is expected to see a 4% YoY decline in express parcel shipment volumes in Q4FY23E given a high contribution of Shopee in the base quarter.
PremiumDelhivery share price rose over 2% in the early trade on Friday ahead of the company’s March quarter earnings slated to be announced later today.
The stock rose as much as 2.46% to ₹374.50 apiece on the BSE. Delhivery shares have gained around 11% this year so far.
Logistics company Delhivery is expected to see a 4% YoY decline in express parcel shipment volumes in Q4FY23E given a high contribution of Shopee in the base quarter, as per ICICI Securities.
“We believe Delhivery is likely to have gained market share in 3PL category in Q4FY23E. We estimate sustained improvement (17.4% YoY) in PTL volumes as Delhivery continues to improve SLAs. However, PTL volumes may still remain 30% below pre-acquisition levels in Q4FY23E," ICICI Securities said.
Overall, Delhivery's revenue is estimated to grow 5.8% QoQ (-6.8% YoY) in Q4FY23. It is expected to deliver positive adjusted EBITDA during the quarter for the first time since listing.
Meanwhile, Delhivery’s consolidated loss for the quarter ended December 31, 2022 widened to ₹195.7 crore from ₹126.5 crore during the same period last year.
Read here: Delhivery Q3 earnings: Loss widens to ₹196 crore on-year basis, revenue falls
Total income in Q3FY23 also declined to ₹1,918 crore from ₹2,019 crore a year ago. Meanwhile, revenue from from contracts with customers fell about 8% to ₹1,823 crore, but improved 1% sequentially from ₹1,796 core.
At 9:45 am, the shares of Delhivery were trading 0.51% higher at ₹367.35 apeice on the BSE.
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